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LG planning to quit smartphone market as Chinese Rivals Power Ahead
Published on: 2021-01-22
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LG is reportedly planning to quit the smartphone market. The electronics giant is said to be considering all means from a potential sale to downsizing to taking back its footprint from the competitive smartphone segment. LG is also said to be relocating 60 per cent of its staff in the smartphone segment to other business units within the company affiliates. Nothing has been decided for the remaining 40 per cent of the employees but regardless of all the changes, LG has made clear that their employment with the company will be retained.
 

A report by Korea Herald said that LG CEO Kwon Bong-Seok has informed all the employees via email about its intentions of shutting down the smartphone segment owing to huge losses. The company incurred losses mounting about $4.5 billion in the last five years in the smartphone market making LG take a ‘cold judgement’ said an official.
 

LG faces fierce competition in its home from Samsung, also a Korean electronics brand in the smartphone business along with several newcomers from China be it Xiaomi, OnePlus, Oppo or Vivo. As 60 per cent of the job holders that have been moved to other segments, the remaining 40 per cent can be retained if the company wants to not completely exit but focus on a few flagship models only. Last year, LG launched two new handsets, the dual-screen Velvet and flip LG Wing handsets with the aim to stand out from the rest in the market.
 

曾经全球第三,LG手机如今要退出了

曾经的全球第三大智能手机品牌LG,在近期频频曝出要放弃手机业务的消息。并且根据多家外媒报道显示,这家韩国科技巨头,要将LG手机智能业务外包,并且将会停止手机项目的研发。通过韩联社最新的消息来看,LG电子移动部门,已经连年亏损,该公司正在计划出售移动业务在内的各种方案。

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