LG Electronics soon smart phone production can cover the area completely. Having difficulty managing this department due to financial losses, the company is considering ending a myth.
Held in January CES 2021 company at its conference, concept smartphone with floating screen LG Rollable made the announcement with a fictional video for. Manufacturers had hinted that it would launch the expected device within the year. But things did not go well. The possibility that not only for the foldable phone, but also for other models will never come, has now become clear.
Why is LG discontinuing phone production?
Until recently, LG’s smartphone unit VinGroupThe news that he was going to sell to him had come to the fore. But two companies about the price could not reach an agreement. On top of that, LG suspended all of its new smartphones in the first half of 2021. It turned out that the company was downsizing because it could not transfer the department to a suitable buyer.
LG Electronic CEO’s Kwon Bong-Seok He said in a previous statement that they considered all options for their loss-making businesses. Mobile device manufacturers compete in the global market while having difficulty; The possibility of LG’s withdrawal from this war has started to be discussed.
If it is necessary to analyze the current situation of the company better; LG in the smartphone market Since the second quarter of 2015 it hurts. The total loss of the department late last year is approx. $ 4.43 billion had exceeded. Therefore, under these conditions, it seems difficult to transfer the company from the desired figures. Because none of the numbers offered so far has satisfied LG.
LG was once world’s third largest smartphone manufacturer was in position. However, the company, which could not keep up with the competition in the market, fell far behind its competitors. For now, the future of the firm remains uncertain. However, according to the news reported by Bloomberg, senior officials have already started to seriously consider terminating their production as the last possibility.