Geek Dashboard

How-To's, Smartphones, News and Reviews

  • Home
  • News
  • Smartphones
    • Android
    • iOS
  • Computers
    • Windows
    • macOS
  • Internet
  • Reviews
You are at Home » News

LG Shuts its Smartphone Division Completely After Facing Huge Losses

Last Updated on April 5, 2021 by Kaushik Battu Leave a Comment

LG or Life’s Good, the South Korean Electronics manufacturer has officially wrapped up its Mobile-Division due to huge losses. This decision from the manufacturer will make it the first major smartphone brand to completely leaving from the market.

Many other brands have a cult following among users of the specific brand. But, many manufacturers have backed out from a specific market and didn’t close the whole business. Recently, Sony has announced backing out of some specific countries due to poor sales.

LG Logo

LG’s Down Fall and Reasons for the fall

LG has been making many innovations in the smartphone industry for the past decade. In 2013, the company was being claimed as the third-largest smartphone maker. In the United States, the share of LG smartphones is a mere 10 percent now. The heavy competition between Apple and Samsung has made the company leave the mobile market.

The Korean manufacturer is making plans to focus on upcoming electric projects such as electric vehicle components, Smart Home devices, and Smart Connective systems for Vehicles. The mobile division made a loss for nearly six years which is around $4.5 billion which is approx. Rs. 33,010 crore.

LG

LG’s recently launched latest smartphones were W41 and W30 Pro made for the mid-range market. They even made an innovative mobile by bringing LG Wing, the Swivel smartphone that had dual screens. The LG G8X ThinQ was another device from the manufacturer that featured dual screens for multi-tasking functionality.

The company has a pretty good share of the market in South America. The other Chinese brands such as Vivo, Oppo, and Xiaomi might get benefitted now as the company has exited the smartphone business. The main problems that the Korean manufacturer didn’t focus on were Marketing and pricing. In comparison, the Chinese brands were excelling in that term and were making good business.

Also Read: 10 Best Tasker Profiles to Automate Your Android Smartphone

LG Smartphones Division Shut Down and Moving of Employees

In the past, companies like Nokia, Blackberry, and HTC have fallen in the mobile business due to fewer sales and other issues. LG has made some mistakes with the pricing of devices. The Chinese companies and Samsung have emerged to sell a lot of smartphones, as they focussed on good specifications and low pricing way.

LG has stated that it will wound down its smartphone division which has five small divisions that account for revenue of 7 percent to the manufacturer by July 31. The employees of the smartphone division will move to other LG Electronics businesses and affiliates.

#Android#Business#LG
Posted inNews

Spread the Word!

Avatar for Kaushik Battu

Kaushik Battu Facebook Twitter Instagram

A techie who is curious about the latest tech updates around the world. Have a keen interest in Automobiles and an occasional gamer.

Related articles

News

Realme 8 5G Launched With MediaTek Dimensity 700 SoC at Rs. 14,999 in India

Realme 8 5G
News

Huawei Enjoy 7S with Dual Rear Cameras Launched in China

News

Oppo's Reno Seen with a Bizarre-Looking Slanted Pop-Up Selfie Camera

Oppo Reno

Comment Policy:

The comments section is aimed to help our readers in case of any questions or you can even appreciate us for our hard work. Every comment is strictly moderated before approving it.

Your name and comment will be visible to the public. Never share your personal information in the comments section.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Over 1,30,286+ Followers

Join to get latest updates from Geek Dashboard

Facebook Twitter Telegram Pinterest YouTube Instagram

Recently Published

  1. Tecno Spark Go (2023) Launched with MediaTek Helio A22 SoC and Dual Cameras in India

  2. Creating Social Media Visuals: 9 Tips, Tricks, and Tools

  3. Hum to Search: 5 Best Music Recognition Apps to Find a Song by Humming

  4. Fire-Boltt Talk Ultra With Bluetooth Calling and 123 Sport Modes Launched in India

  5. Wikolo Super App: Bringing Countless Benefits for Students

Geek Dashboard Placeholder

Download the apps and never miss a story from us

We put a lot effort and resources in writing our articles and we believe it is our responsibility to satisfy your tech hunger. We will keep you filled forever!

  • Get Geek Dashboard App from Google Play
  • Get Geek Dashboard App from Chrome Web Store
Geek Dashboard Logo

At Geek Dashboard, we are dedicated to bringing you the latest and greatest in technology news, reviews, and how-to guides. From smartphones to laptops, and everything in between, we've got you covered.

Got a Tip? Write In tip@geekdashboard.com

© 2012 - 2023 · Geek Dashboard, product of ikva eSolutions

Blog Advertise About Jobs Contact Privacy Policy Write For Us T&C Office Setup

No dogs were injured while working on this website because we love them