The South Korean manufacturer, LG, has had a really hard time competing in the smartphone market. After consecutive quarterly losses, the company eventually had to withdraw from the Chinese smartphone market. However, the toll was not only in China, it continued even in its home country, South Korea, where the likes of Samsung are running riot. In the end, LG had to completely withdraw from the smartphone market. Despite LG’s withdrawal from the smartphone market, some of its devices were still on the shelves. The company will continue to provide software updates for these smartphones for three years.
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Recent reports reveal this LG’s latest smartphone, the LG Velvet, has been removed from the AT&T website, (the US carrier). This means that the era of LG smartphones is officially over. In April 2021, LG announced its withdrawal from the smartphone market due to continued losses in the mobile sector.
LG claims that in the case of fierce competition in the industry, the performance of the company’s mobile phone division is very slow. Thus, she had no choice but to exit the market. Going forward, LG will focus its resources on developing other emerging growth areas. Some of these areas include electric vehicle parts, IoT devices, and smart home products.
LG’s glory days are over
After announcing its withdrawal, LG mobile phones on the market will continue to sell. However, the company will not be making any new units. This time, the US company AT&T removed LG mobile phones from the website, which means that LG mobile phones are officially out of stock.
According to public reports, in 1995 LG set up a mobile phone research and development department. This division reached its peak in 2013. At that time, LG was the third largest smartphone manufacturer in the world, after Samsung and Apple. But later, software and hardware failures in LG’s flagship products, coupled with slow system software updates, made the brand gradually lose popularity among consumers.