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Why did LG leave the smartphone market?
South Korean electronics giant LG is exiting the smartphone business after years of losses to focus on other growing businesses the company announced on Monday, a decision that will leave a sizeable gap in the American smartphone market where LG is the third biggest brand after Apple and Samsung.
Is LG getting out of the phone business?
After years of losing money on the division, LG said it will kill its failed mobile business by the end of July, though it might still sell some devices after that date. Folks who buy an LG phone will still receive up to three years of Android operating system updates.
Why LG stopped making mobile phones?
The limited sale of the LG Velvet 2 Pro ran into issues As a sort of final goodbye LG was supposed to sell a limited number of LG Velvet 2 Pro rollable phones (around 3,000 units) to employees, however, that didn’t go as planned. The issue is being blamed on “congestion”.
Why did LG shut down mobile business?
“LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services,” the …
When did LG leave the smartphone market?
July 31, 2021
After 12 years of being an Android OEM, LG has had enough. The Korean company announced late last night that it is officially quitting the smartphone market; it plans to close up shop on the entire business by July 31, 2021.
Which country company is LG?
Seoul, Korea
LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global company….Company Information.
Address | LG Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea |
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Established | Oct 1, 1958 |
Will LG phones still work?
Will my phone still work? A. Yes, your current LG phone will continue to work with your service provider.
When did LG start making phones?
2009
LG has been known for making mobile phones for that whole period, and the company has been a major player in the smartphone market too, making Android handsets since 2009 with its debut LG GW620 handset. We’ve put together a variety of our favorite mobile phone choices over the last twenty-five years.
Why is no one buying LG phones?
Things are so bad for LG’s phone positioning that no one wants to buy the company’s smartphone business. LG is believed to have been in negotiations with Vietnamese conglomerate Vingroup and also German automaker Volkswagen, but those didn’t really progress much further.