LG terminates its mobile phone business
The recent curved phones from LG will therefore have no successors.
@Thomas Bourdeau
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LG, one of the largest cell phone manufacturers, has decided to end its mobile activity from the end of July 2021. This branch of the South Korean conglomerate was largely in deficit and had not created a profit since 2015. expected decision which aims to reorient the activity towards more lucrative sectors.
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With our correspondent in Seoul,
Nicolas Rocca
Two months after saying that all possibilities were open about its cell phone division, LG decided to end the suspense.
The company, which was once the fifth largest manufacturer of mobile phones in the world, tried unsuccessfully to convince the Vietnamese company Vingroup and the German company Volkswagen to buy out its activity.
LG is no match for Samsung
LG, which still represented 2% of the market this year, was no match for the giant Samsung and the competition from Chinese neighbors.
This 23rd quarter of consecutive losses got the better of the telephony brand.
No panic for LG cell phone users, the company will continue to provide service and maintenance to its customers.
The brand's phones will be available at least until July 31, the official market release date.
Objective of electric vehicles
Now for one of South Korea's largest conglomerates, the goal is to focus on electric vehicles, robotics and artificial intelligence.
The company also said it will continue to invest in research and development in the telephony sector with the goal of 6G in its sights.
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To read also: South Korea: Samsung has never been better than in times of pandemic
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