LG might exit the smartphone market — what does that mean for its rollable phone?
LG might exit the smartphone marketplace — what does that hateful for its rollable telephone?
LG has always set itself autonomously in the smartphone game by introducing some bizarre and wacky ideas. From swivel devices similar concluding year'southward LG Wing to modular phones like the LG G5, the Korean company has always liked to do things differently. Case in signal: at CES 2021 final week, LG introduced a rollable phone that wowed u.s.a. in its arroyo and possibility.
Unfortunately, LG's rollable phone might be its final hurrah in the smartphone space equally the visitor is considering exiting the market place entirely.
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According to the Korea Herald, Samsung CEO Kwon Bong-seok sent out a message to employees Wednesday (Jan. 20), indicating major changes would be coming to its mobile division. Bong-seok was quick to institute that there would non be mass layoffs.
"Regardless of any modify in the direction of the smartphone business operation, the employment will be maintained, and so at that place is no need to worry," Bong-seok said.
This suggests a major pairing down or complete emptying of the company's smartphone section. It comes after a difficult v years in the smartphone business as the visitor has lost $iv.5 billion.
"I tin confirm that LG Electronics is exploring a diverseness of options in light of the headwinds facing our mobile business organization," an LG representative said in an email exchange with Tom's Guide. "Any boosted comments would be speculation. We will be in touch if and when there is news to share."
This comes a year subsequently Bong-seok committed to making LG's mobile division profitable past 2021. But and then coronavirus had gripped the world and upended the smartphone market. Even companies similar Apple saw a dip in smartphone sales, which follows a full general down trend over the past five years.
But LG'due south market forecast has been far more dire. The company had been posting operating losses for 23 consecutive quarters.
"The smartphone market dangles wild profits in front of manufacturers, merely only a few companies merits the riches," said Avi Greengart, president and pb analyst at Techsponential, a marketplace research and advisory company.
Not only was LG'south phone sectionalization a customer of its ain components and displays, it was also the driving force of the visitor's overall vision.
"Smartphones were supposed to be the hub for LG's AI and IoT ecosystem that connects LG televisions and LG abode appliances," Greengart said. "Exiting smartphones entirely would hateful conceding defeat non just to Apple, but to cross-town rival Samsung, while abandoning major strategic ambitions across the visitor."
Why LG phones may not be resonating with consumers can be explained past multiple reasons. Stiff competition from both Apple and Samsung on the enthusiast stop has left LG's offerings feeling short.
For years, LG'southward premium V series, similar last yr'south V60 ThinQ, had problem competing with Samsung in both design and camera performance. LG dropped the V serial for its Velvet, a more affordable option with higher end specs. Merely that also was outclassed by phones similar the OnePlus 8.
If LG couldn't compete with functioning and design, its only differentiating gene was novelty. And while swiveling phones similar the LG Wing are absurd, it attracts a niche crowd, i that's willing to overlook sure specification shortcomings for something offbeat.
At the moment, LG commands less than 2% of smartphone market share. Information technology'southward unfortunate, as LG's does bring forward inspired products. If LG could do a better job in bringing products that compete and excite on the enthusiast stop while besides finding ways to remain competitive at the mid-range against companies similar OnePlus, then the company might detect its audience. Only if it does exit the infinite, the market will have lost one of its major innovators.
Source: https://www.tomsguide.com/news/lg-might-exit-smartphone-market-what-does-that-mean-for-its-rollable-phone
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