The smartphone market has been a hotbed of competition ever since the first iPhone and Android devices appeared. In the early days, there was even BlackBerry, but iOS and Android’s dominance has shattered all else. While Apple’s iPhone is a strong player, the Android smartphone market battle is much more intense.
With literally dozens of smartphone makers out there, the Android smartphone market has become saturated. The players in this market range from premium makers like Samsung to budget makers like Coolpad. Another premium Android maker has been LG. The company has been battling with Samsung for the top slot of the Android smartphone market for years.
Now, The Korea Herald reports that LG may be considering altogether pulling out of the smartphone market. The company has lost about $4.5 billion US dollars on its endeavor in this segment. There have been rumors that the phone vendor might be preparing to downsize or dismantle its mobile device business unit.
“Regardless of any change in the direction of the smartphone business operation, the employment will be maintained, so there is no need to worry,” he said.
“Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice,” an LG official explained. “The company is considering all possible measures, including the sale, withdrawal, and downsizing of the smartphone business.”LG CEO Kwon Bong-seok via The Korea Times
It’s important to note that LG also makes smartphone displays for many other brands, including Apple. It will be interesting to see if the company continues in that verticle or withdraws from that production.
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Last Updated on February 3, 2021.