LG considers leaving the mobile business

guest · Jan 20, 2021

LG considers leaving the mobile business
After nearly six loss-making years, the CEO said it was time to make a 'cold judgment.'
January 20, 2021
https://www.engadget.com/lg-ceo-kwon-bong-seok-mobile-division-exit-losses-094712722.html

After nearly six successive loss-making years and a $5 billion commitment, LG may finally be ready to leave the smartphone business. The Korea Herald says that CEO Kwon Bong-seok, in a message to staffers, suggested that change was coming.

A company official later told the paper that it was “about time for LG to make a cold judgment” about the ailing mobile division. Citing fierce competition in the handset market, the official that LG was looking at “sale, withdrawal and [a] downsizing of the smartphone business.”
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Naturally, LG has also been showing off its rollable phone, which was expected to debut at some point this year. That, however, is likely to sit in the ultra-premium tier, and may not be enough to reverse LG’s ever-dwindling market-share which StatCounter said had fallen to 1.7 percent in December 2020.
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Floyd 57 · Jan 20, 2021

Now that I think of it, I havent heard of an LG phone in a while. Few years ago they were not that uncommon

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LG considers leaving the mobile business

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