LG has without doubt grown to become a major electronics company and a leader in the global consumer electronics industry. This successful South Korean company whose original name is Lucky GoldStar manufactures products ranging from Mobile Communications, Home Entertainment, Home Appliances & Air Solutions, and Vehicle Components.
Despite its massive global success stories, one sector that the company might not have thrived so well in is in the area of Mobile Communications, as they have not been able to catch up with the rest of the big players in that sector over the past few decades, a realization that has led the board of directors of the company to decide to shutdown its smartphone business.
This announcement was made on Monday marking the end of the road for the South Korean giant’s mobile division. This move is unsurprising considering the fact that this arm of the company has been a loss-making arm since the rise of Chinese brands (Huawei, Oppo, Tecno, Gionee, Xiaomi, OnePlus, Vivo, etc.), who offer customers across different markets better value – for – money devices.
With many options to choose from; especially from Chinese companies; added to the fact that their smartphones are not that popular, LG’s shut down of their smartphone business is one that most people would not even notice, and they are likely not going to be missed by many.
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Photo Credit: techcrunch.com, gsmarena.com, reuters.com
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