Title: LG has confirmed that it will withdraw from the smartphone industry and focus on other areas
Description: LG has confirmed that it will withdraw from the smartphone industry and focus on other areas such as electric vehicle components, connected devices, robotics and so on. Rumors of a withdrawal from the telephone market have been circulating on the web for some time. For five years, the turnover of LG smartphones has been decreasing. Despite the fanstastic and modern solutions, the phones do not sell very well. Whether they're premium flagships or mid-range devices,
LG's smartphone business is running low. Moreover, as Chinese OEMs grew, LG faced stiff competition. When can we expect the smartphone division to be completely shut down? The complete liquidation of the LG smartphone division is expected by the end of July 2021. This year many premieres were to take place, unfortunately it will not be so. Recall that LG has patented unique smartphone designs with rolling displays, folding displays and so on. After the smartphone department is closed, these unique smartphones will not see the light of day.
LG "will now enable the company to focus resources on growth areas such as electric vehicle components, connected appliances, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services," the company said in a statement for media .
Admittedly, the smartphone industry is revolutionary, but it also has fierce competition. Chinese companies have launched inexpensive and pretty good smartphones along with premium flagship models, and generations of upgrades come to the market every day. Several smartphone brands are even fighting to run their business today. It is not an easy task these days as the coronavirus pandemic is raging all over the world.
keywords: LG, phones, premieres, changes, updates, news