LG has been struggling to establish itself in the smartphone market for almost a decade now but it has failed to do it so far. The past five years have been rough as the company has lost over $4.5 billion. The company is nowhere near its rivals, and it’s high time for them to make a call about their future in the smartphone market. The CEO Kwon Bong-Seok has already informed the employees that LG is considering some huge changes in its smartphone business in the coming months.
Acknowledging the fierce competition in the global smartphone market, Kwon has told his employees that the company will now take the final call about its future. They will be considering all the options including withdrawal, sale, and downsizing. The company has made it official and although nothing is decided yet, there is a possibility that we might see the end of LG as a smartphone manufacturer.
A few weeks ago, there were reports that LG was considering exiting the smartphone market but the company came out and called all such reports false and without merit. However, it seems that there was some truth to those reports and the company was not ready to accept it back then. As of now, LG will be banking on the “wow factor” of some of their smartphones to attract more consumers. LG has already launched several devices that are unique like G7, V40, V50, and the G8 but they have failed to compete with smartphones by Samsung and Huawei. All of those efforts have been futile to push their market share.
LG’s latest Wing and Velvet smartphones are another such efforts to woo users but they are also likely to fail. Xiaomi, Samsung, Huawei, Vivo, and Apple continue to dominate the world smartphone market while LG lags far behind. The latest Rollable phones by LG might just be their last attempt to differentiate themselves from their competition. The unique resizable screen in the Rollable device does seem innovative and useful but only time will tell how consumers will respond. As of now, it seems that the Rollable phones will be their last bet. LG has struggled for a long time but the consumers have rejected them. Only time will tell if the Rollable phones work for them or not. But it is almost certain now that they will be LG’s last attempt to woo smartphone users. If they fail this time the Rollable devices might be the last LG phones that we see.
Source: LG on the Verge of Exiting Smartphone Market
