Hot Deal LG Becomes First Major Smartphone Brand to Withdraw From Market Due to Losses

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LG Electronics said it will wind down its loss-making mobile division – a move that is set to make it the first major smartphone brand to completely withdraw from the market.

Its decision to pull out will leave its 10 percent share in North America, where it is the No. 3 brand, to be gobbled up by smartphone titans Apple and Samsung Electronics.

The division has logged nearly six years of losses totaling some $4.5 billion (roughly Rs. 33,010 crore), and dropping out of the fiercely competitive sector would allow LG to focus on growth areas such as electric vehicle components, connected devices and smart homes, it said in a statement.

Currently its global share is only about 2 percent. It shipped 23 million phones last year which compares with 256 million for Samsung, according to research provider Counterpoint.

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bad news for all those who purchased LG phones in recent times – those phones are rendered “invaluable” now pensive

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When users dont have foresight on what to buy or not toungueout

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So Unfortunate.

Amazing devices and innovations but less focus on quality and software killed them.

Also, they failed in marketing and never focused on markets like India properly.

I haven’t seen any other big mobile company being as bold as LG for innovations.

Nexus 4, Curved LG G Flex2, first wide angle camera, modular LG G5, LG Wing and so many other innovations.

Good thing with LG was we were able to get one year old flagship at midrange price.

Will miss them.

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…LG phones are indeed good…sad news…

…by the way LG phones are still better than chinese craps…
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LG shutting down its mobile phone business worldwide
So sad pensive

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When no major brand will be in market, Chinese brand will increase price.
I think currently only Samsung is in competition with Chinese brand.
HTC was also making good phone but it also gone.
Chinese brands have many service center compared to LG/HTC or such other brand (it is other point that quality of service).

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still_guessing wrote:
…LG phones are indeed good…sad news…

…by the way LG phones are still better than chinese craps…

Way better. 😔

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Problems with LG are, it depends heavily on word of mouth marketing; its low n mid-range phones are not good; it failed to show case its potential to users; it didn’t care about customers ( same problem with Asus).

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Why can’t they merge with some other brand

Usual it happens in other sectors right

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Par_ wrote:

When no major brand will be in market, Chinese brand will increase price.
I think currently only Samsung is in competition with Chinese brand.
HTC was also making good phone but it also gone.
Chinese brands have many service center compared to LG/HTC or such other brand (it is other point that quality of service).

Any brand that cannot adapt to current market conditions.. won’t survive
Samsung survived because they stopped relying on their flagship phones alone to capture markets (Say India)
There were times when samsung used to sell shitty J series (J7/J7 were decent) phones Excluding many sensors for cheaper price but thanks to chinese competition, galaxy M series happened + we got better samsung phones (M20 series was a big win for them)

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mystguy wrote:

bad news for all those who purchased LG phones in recent times – those phones are rendered “invaluable” now pensive

g8x
the most hyped stuck_out_tongue

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Now all the sellers will be in a rush mode to get the LG Mobile stock out of their inventory. I guess we can expect a lot of offers on these phones in the coming days.

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Being over 2.5 year user of LG V30+ , I feel sad to see LG go.
My LG V30+ is given to my nephew and he is using it without any issues , with original battery.
Back cover cracked once and I replaced it myself in less than 1000.

Amazon phone.
Especially with Samsung dropping features like 3.5mm jack, there is no alternative now.

I thought Sony Mobile will close first but LG beat them.

Future looks like Chinese monopoly.
When Chinese will start increasing (they have already) ,it will be difficult.

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I’m rather happy. Except that for the Chinese dominance part. LG is the only company which had hardware problems for 3 successive years, Nexus 5, Nexus 5X, G2 G3, G4, some motherboard soldering issue was it? Can’t even remember. And then there was their skin, third class piece of crap. Just like Samsung’s, even worse. Samsung should be out next for their skin (called One UI at the time of writing this message) but hey that’s not gonna happen now would it.

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i think same will happen in TV as well if no proper care take by companies. Chinese companies are dominating slowly.

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The South Korean brand’s mobile division has faced mounting losses over the past five years, reportedly totaling $4.5 billion. Abandoning the loss-making mobile business could boost the company’s operating profits, taking it to new highs, after last year’s record of 3.2 trillion won ($2.85 billion).

LG’s share in the global smartphone market stands at around 2%, according to the most recent data from Counterpoint. The South Korean electronics producer shipped only 24 million phones in 2020, while global leaders Samsung and Apple shipped nearly 256 million and over 201 million respectively. Those brands are expected to fill the gap left by LG.

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ithehappy wrote:

I’m rather happy. Except that for the Chinese dominance part. LG is the only company which had hardware problems for 3 successive years, Nexus 5, Nexus 5X, G2 G3, G4, some motherboard soldering issue was it? Can’t even remember. And then there was their skin, third class piece of crap. Just like Samsung’s, even worse. Samsung should be out next for their skin (called One UI at the time of writing this message) but hey that’s not gonna happen now would it.

What’s issue with Nexus 5 except low battery and fragile ceramic power button? I still have it with me in intact condition but its matte back became dirty.

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ULYSSES wrote:

What’s issue with Nexus 5 except low battery and fragile ceramic power button? I still have it with me in intact condition but its matte back became dirty.

They used a double surface mounted cpu SOC which came lose with heavy use due to heat.. But I never used it like that and it still died and had to replace the motherboard which cost like 15k..

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alienteck wrote:

They used a double surface mounted cpu SOC which came lose with heavy use due to heat.. But I never used it like that and it still died and had to replace the motherboard which cost like 15k..

I was lucky then, to not face any major issues. Still its bad that LG is shutting the mobile business. They were the ones who did not stick to single design pattern and kept on experimenting unlike Samsung who did not alter anything until Galaxy S8. LG focused only on design and ignored performance and now going into the grave.

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ULYSSES wrote:

I was lucky then, to not face any major issues. Still its bad that LG is shutting the mobile business. They were the ones who did not stick to single design pattern and kept on experimenting unlike Samsung who did not alter anything until Galaxy S8. LG focused only on design and ignored performance and now going into the grave.

LG also had some weird models where you got the pro with all options but then sub brands which had reduced memory or smaller battery and other features but the same phone but much cheaper.. Thats a simpler way to reduce costs and make different models than like what redmi and realme are doing now which mostly require entirely different parts for each model.

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Smart phone business now is ultra cutthroat. And being most innovative doesn’t make a product instant hit.

https://www.gsmarena.com/in_memoriam_lgs_great_...



But they were way ahead of their time in terms of hardware and design innovation.


It was the flawed decisions of LG ( mobile) management which killed the brand eventually after six years of continuous loss. They couldn’t continue as loss making company   for long.

( they’re not Amazon)

Missing