LG mobile phones will soon be a thing of the past, and the Korean electronics major is now being invested in redistributing its employees from the smartphone division to other units. According to reports, LG was looking for interested parties to buy its mobile phone business, which had suffered losses after years of staggering losses. LG mobile phones will be remembered for the great innovations the company stubbornly stuck to, but unfortunately were unable to make it commercially successful in the face of the value war waged by Chinese smartphone manufacturers.
A Bloomberg report from last month said that LG may soon shut down its mobile phone business rather than sell it. The company is reportedly in talks with Vietnam’s Vingroup JSC, and leading German automaker Volkswagen AG, to drive the sale of its mobile division, but the apparent acquisition of LG phones never materialized due to undisclosed issues. Over the past few months, LG is believed to have halted development of smartphones that were already in its plans, including the amazing foldable smartphone that the company showed off at CES 2021 (and also claimed to be production-ready with it).
Now, the decision has apparently been confirmed, suggesting that an official announcement from LG must be right around the corner about the eventual demise of LG mobiles. The latter was one of the few early movers in the mobile space – a market that was once ruled by Nokia and BlackBerry, but also had Samsung and LG as the main market movers. While BlackBerry is now defunct, Nokia sells smartphones under parent company HMD Global but has simply failed to revive the market dominance it had in the pre-smartphone era.
For LG phones, the journey has been bittersweet at best. The company has always been ahead of the curve in terms of coming up with innovative ideas for smartphones, rather than playing the typical game of high specs and low price that Chinese smartphone vendors play. Some of its most notable smartphone efforts include the LG G Flex 2 from early 2015 with a curved OLED display, the LG G5 from 2016 with a modular build meant to let users snap off any extra bit they please, and more recently, even the LG Wing which can It snaps into a T-shaped viewing area and also includes a gimbal-like camera interface. It also grabbed many eyeballs with a smartphone that has a motorized rollable screen that can either extend into a tablet, or collapse into the shape of a smartphone.
Despite all of its efforts, though, LG’s cell phones can’t quite break into the top five when it comes to sales and shipment numbers. Chinese OEMs such as Xiaomi, OnePlus or Vivo have taken over the side of providing users with a greater value for money, while LG mobile phones have been relegated to playing the role of the great innovation that everyone got excited about but were overpriced, or offered way below in terms of price. . rest of the competition. Going forward, it remains to be seen if LG will do a double-take, or find an end buyer to take the innovative smartphone dreams forward.
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