Sunday, August 7, 2022
  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home Mobile Phones

LG Reportedly Considering To Withdraw From The Smartphone Business

by Heirul Kamel
January 20, 2021
LG Wing
62
SHARES
Share on FacebookShare on Twitter

LG Electronics is mulling on exiting the smartphone business, according to a report by The Korea Herald. It is said that the company’s phone market share had recorded a loss of 5 trillion won (~RM18 billion) over the past five years.

According to the report, CEO Kwon Bong-seok sent out a message to staff stating that it was “about time for LG to make a cold judgment” about its ailing mobile division. “The company is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business,” he added.

At the same time, Kwon assured employees saying, “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 also pointed out that LG is facing fierce competition in the global market for mobile devices, which resulted in the company’s consideration of viable steps to take.

LG Reportedly Considering To Leave The Smartphone Business
LG CEO Kwon Bong-seok (left) [Image: LG Electronics]
The Korea Herald cited rumours where 60% of the mobile division’s staff will be moved and reassigned to other business units within the company or to other LG affiliates. The fate of the remaining 40% was not disclosed, but it is believed that the company will retain some of that institutional knowledge for its other products.

ADVERTISEMENT

In 2020 alone, LG has introduced two new devices with the aim of innovating smartphone designs. These include the Velvet and the premium priced Wing (pictured on top) – the latter featuring an interesting yet bizarre dual screen approach. Despite the LG Wing making headlines thanks to its design, consumers still fixed their attention onto traditional yet familiar smartphones such as Apple iPhones and the Galaxy series from rival Samsung.

LG Velvet Qualcomm Snapdragon 765
The LG Velvet

Also keep in mind that LG’s supposed plan of withdrawing from the smartphone industry is from unofficial sources, and may not be accurate in the end. At least until the company would actually admit this in the foreseeable future.

The company’s departure, should they decide to do so, will definitely leave a significant impact in the smartphone market. This would mainly benefit its competitors as existing LG users may turn to other brands for alternatives, especially once their devices lose software and hardware support after the exit. Fortunately, this wouldn’t be an issue for Malaysia as LG no longer sells their smartphones on local store shelves for several years now.

(Source: The Korea Herald via Engadget)

Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news. 

Tags: exitLGlg electronicsRumour
Updated 9:25 am, Thu, 21 January 21
Back to top
Share25Tweet16SendShare

ADVERTISEMENT

RELATED ARTICLES

Nothing phone (1) hands on lite
Mobile Phones

Nothing Denies Plans To Release A Lite Version Of The phone (1) [UPDATE]

by Heirul Kamel
August 2, 2022
Samsung Exynos Chipset
Mobile

Samsung Denies Plans Of Discontinuing Its Exynos Chipset

by Heirul Kamel
August 1, 2022
LG OLED evo Smart TV Malaysia
Smart TV

LG OLED evo Smart TVs Launches In Malaysia; Price Starts From RM 8,199

by Heirul Kamel
July 30, 2022
Apple Watch extreme sports
Smartwatches

Apple Reportedly Planning To Launch An “Extreme Sports” Watch This Year

by Heirul Kamel
July 7, 2022
Load More
No Result
View All Result

TRENDING TODAY

  1. 1
    Tablets

    Samsung Galaxy Tab S6 Lite (2022) Now In Malaysia: Price Starts From RM1,499

  2. 2
    Mobile

    ASUS Zenfone 9 Will Not Be Launching In Malaysia

  3. 3
    Mobile Phones

    LG Reportedly Considering To Withdraw From The Smartphone Business

  4. 4
    Laptops

    Everything You Need To Know About The Modern & Powerful Laptop Offerings From Dell

  5. 5
    Fintech

    Apple Pay Signage Appears At Maxis Centre And Website (UPDATED)

Consumer Tech News & Reviews Malaysia

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

We use cookies to improve your experience. Learn More.