Why did LG leave the smartphone market?

LG leave the smartphone market

Have you ever used or own an LG smartphone? Just a few months ago it was announced that LG was going to stop making smartphones.

It is certainly not something to be surprised by as rumors of this have been heard from a few months ago.

The decision

LG not only specializes in the creation of smartphones, the decision was made after a meeting where they stated that now “The company will be able to focus its resources on other growth areas such as the creation of parts for electric vehicles, robotics and business solutions. -business,

It should be noted that LG was not one of the companies that had the largest share in the smartphone market.

According to Counterpoint Research, LG only had 9% of the smartphone market in the United States at the end of the last quarter of 2020.

This allows its competitors, such as Samsung and other Chinese brands, to have the opportunity to earn a higher margin in the smartphone market.

However, LG exiting the market does not indicate that they will stop supporting their devices so early.

The process is planned to be complete by July 31 of this year. All devices that are in stock will still be sold after that date. Only they did not specify how long they will have support, the only thing that is known is that the support will vary depending on the region.

Other areas

As you already know, LG doesn’t just generate revenue from smartphones. Surely you have or at least know someone who has an LG electronic device.

Televisions, refrigerators, microwaves, stoves, washing machines and many other products are what LG manufactures for the final consumer.

The Korean company plans to continue its research in 6G technology. They have promised that 6G technology will allow better data transfer and more stability than 5G itself.

They even went so far as to say that 6G will allow the concept of Ambient Internet of Everything (AIoE) that allows the user to have better connectivity with their devices at home.

The Koreans said that the 6G would be ready to be commercialized until 2029. LG has partnered with Keysight Technologies which is an American company that manufactures electronic devices and also specializes in software development.

Smartphones

LG certainly had a couple of smartphones that were famous like the iconic LG G2 launched in 2013.

The most recent smartphone they launched was the LG V60 ThinQ which was the last flagship launched on the market.

Many will remember that modular smartphone that you could change the module below for several more.

The G5 was a smartphone widely criticized, not only for its modular peculiarity, but for its design that many people did not like.

LG G5

Final words

Certainly LG was not the best at creating smartphones, but it did manage to make a mark in the smartphone market.

Many times you have to know when to retire, the company made the decision due to the high competition from smartphones in the market. More with Chinese companies creating smartphones every 2 by 3 at a very low price.

The time will come where you have to make such a strong decision, be sure to study all the possibilities with their pros and cons.