Despite LG being one of the most powerful electronics companies in the market, its mobile division hasn’t looked up for several years, trailing losses since 2015 and they are said to have finally made the decision to end the business. the mobile division.
LG has reportedly already made the final decision to shut down the mobile division
After several months of rumors, Kwon said last January that it was time to coldly think about the mobile division and weigh all the possibilities. At one point, it looked like they would end up selling the mobile division to the group that had bought BQ, but ultimately failed to close the sale.
Kwon, current president of the mobile division.
While it’s not official yet, multiple sources have suggested that the most likely option is for LG to end up shutting down the division. It appears that the decision will be imminent, since according to the Korea Times, the South Korean company would have made the final decision.
According to industry sources “LG considered various selling options, such as selling the division, selling in several parts, or exiting the mobile business directly and they recently decided to exit the business.”
Although it is not yet official, the company would announce the exit of the smartphone market during the general assembly of Monday, April 5, 2021. Regarding the employees, the company would not proceed to layoffs and would simply start to distribute the employees. employees between departments.
LG’s case will be remembered for being a business who did not know how to sell their mobiles. Few companies will find that they have tried to innovate more in the mobile phone market, sometimes with experiences that were not of great importance, but also with decisions well ahead of their rivals.
The most important case would be the LG G5, which was the first large mobile to incorporate a quality ultra-wide-angle camera years before its main rivals.
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