LG has attempted to keep up prominence in the competitive mobile market. Accordingly, the company is apparently preparing to declare that it will shutter its smartphone business.
As indicated by The Korea Times, LG will report that it will pull out of the smartphone market on April 5 subsequent to failing to turn a profit these previous few years.
“LG Electronics appears to have decided to pull out of its money-losing smartphone business and entered into a transition process to relocate its mobile communications employees to other business units,” The Korea Times said.
LG has suffered operating losses since 2015, and despite churning out some really innovative gadgets, the organization hasn’t had the option to turn its mobile business around. The organization endeavored to discover a purchaser, purportedly engaging interest from Volkswagen and Vietnam’s Vingroup JSC, however the discussions apparently didn’t work out.
As of late as January, a LG spokesperson said the organization wasn’t closing down its mobile business. Furthermore, indeed, there were reports LG was chipping away at new gadgets during the current year, in any event, prodding a rollable cell phone a couple of months back. As it was probably called, the LG Rollable was required to offer a “unique resizable screen” that was capable for transforming.
If LG is for sure shuttering its mobile business, it implies whatever it had gotten ready for 2021 has been scrapped. LG’s nonattendance from the Android market would be an immense misfortune for the business since it has thought of numerous good thoughts. LG additionally made incredible telephones like the Nexus 5 and Pixel 2 XL.
“All we can say is that every possibility is open,” a company spokesperson told The Korea Times. “Although we cannot confirm that right now, we will announce the specific direction of our mobile communications business.”
For the time being, they will hang tight for true affirmation from LG about its future mobile plans. Today is April 1, which is precarious when reporting on significant news. With a declaration supposedly going ahead April 5, it will not be any longer before they know for sure.