Connect with us

Tech

LG was a smartphone pioneer.Now it’s quitting business

Avatar

Published

on


LG is getting out of the “very competitive” business of making smartphones.

On Monday, South Korea’s tech giant announced that it would shut down its mobile phone unit after years of loss, marking the end of the pioneering era in the Android world.

According to LG Electronics, the division will be disbanded by July 31, but it is possible that some of its existing models will continue to be sold thereafter.

“The strategic decision to withdraw from the highly competitive mobile sector will allow the company to focus its resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and inter-company solutions. It will be, “the company said. In the statement.

According to research firm Strategy Analytics, LG was once one of the world’s top smartphone makers, even in the top three in 2013.

However, the popularity of its devices is declining, especially as Chinese startups such as Xiaomi and Oppo are booming around the world. According to counterpoint research, according to market research firm Canalys, LG was among the top seven companies in the world as of last year, despite being the third most popular smartphone vendor in the United States after Apple and Samsung. did not.

“LG has left a” small gap “in its global market share of less than 2%,” Neil Shah, Partner and Vice President of Research at Counterpoint Research, told CNN Business.

He predicted that the space would likely be filled by Samsung and some small players in both South Korea and the United States.

LG has already warned of the fate of its telco business in January and said it is considering all options, including the possibility of selling the unit.

The decision to stop it on Monday came across a nostalgia on social media where users shared a photo of their first LG phone and reminded them of the company’s willingness to innovate.

“Pour one into LG Mobile. That’s why we have [ultrawide cameras] Technical reviewer and video producer Marques Brownlee wrote on Twitter. (LG’s V40 phone is widely known for introducing this feature to smartphones.)

“They didn’t always ace all the phones, but losing them means losing competitors trying new things, even if they don’t work.” Brownley added.

“LG was never perfect, but in the boring slab world, it offered some of the most unique phone designs, ideas and features to date,” said Austin Evans, a tech video blogger. I will.

LG was known to push the boundaries with smartphones. In 2013, the curved smartphone screen appeared, making it one of the first electronics manufacturers to debut technology for the mass market at the time.

Two years later, the company surprised experts with the LG G4’s high-end photography capabilities. “Maybe it’s the best smartphone camera on the planet,” said David Goldman, a former technical editor at CNN Business.

And last year, LG announced the WING 5G, a 5G-enabled smartphone with two screens. You can rotate one of the screens up to 90 degrees to make it easier for users to switch between different apps at the same time for multitasking.

The company’s last big splash came just three months ago when it revealed a phone that could be rolled up and turned into a tablet.

LG said at the time that the device would be available later this year, but the company confirmed to CNN Business on Monday that it is no longer available.

“For many years [the] LG smartphones were known for their unconventional and innovative features, “Canalys research analyst Shengtao Jin told CNN Business. “These features helped LG differentiate from other mainstream brands, but most consumers didn’t find much practical value in these features.”

However, the company will not completely collapse from the industry. “LG will continue to leverage its mobile expertise to develop mobility-related technologies such as 6G,” he said in a statement.

“The core technology developed over the 20 years of LG’s mobile business will also be retained and applied to existing and future products.”

Experts believe that this decision may help the company in the future. LG will enjoy a better growth outlook overall if it abolishes the mobile business, Shah said, “removing thorns” from the company’s “feet.”

“It would be wise for LG to reduce losses and bet on favorable areas such as the display business,” Jin added.

LG Electronics’ share price fell 2.5% in South Korea on Monday following the news.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]