Make this your homepage
Business News
Home > Business News
LG may exit smartphone market but it's not game over
LG may exit smartphone market but it's not game over

New Delhi, Jan 24 (TIWN) The mobile business of LG Electronics has been in the red since the second quarter of 2015. Its accumulated operating loss reached nearly $4.5 billion last year and now, the South Korean company is planning to exit from the competitive smartphone market.

LG has been quite brave with its recent mobile forays, experimenting with what comes next in smartphones.

Consider, for instance, the rather exciting foldable LG Wing, or the forthcoming rollable device.

However, significant and sustainable market success has alluded LG to date including in India. LG's share in the global smartphone market is estimated to be between 1 and 2 per cent.

According to Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR, as a diverse conglomerate, LG is best placed to clearly map emerging opportunities and challenges in a rapidly evolving post-virus world.

"It may potentially choose to eschew the faltering smartphone business for its strengths in the consumer appliance business, as well as future-focused robotics and automotive,'' Ram told IANS.

Add your Comment
Comments (0)

Special Articles

Saumen Sarkar Saumen Sarkar
Anirban Mitra Anirban Mitra