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>> To develop potential business, LG wants to use OLED panels to wrestle with Samsung 8th,April,2022
In the near future, it can be seen that LG is developing its potential business, such as OLED panels that can compete with Samsung. If LG can really invest in OLED panels and compete for more market share of OLED panels, discarding the mobile phone business is not a big problem.
Text ︱ Dora
With the maturity of 5G technology commercialization, the global market of 5G smartphones is divided, and domestic mobile phone manufacturers are catching up. If you are not careful, anyone may be left behind. LG, which once made a big splash in the market with its "Chocolate" and "Ice Cream" series, experienced long-term losses in the smartphone sector, and there have been reports of shutting down or selling the mobile phone sector. Finally, on the day of March 23, the Korean media "Dong-A Ilbo" threw heavy news, saying that LG was about to decide to close the smartphone department and withdraw from the mobile phone market.
LG did not find a suitable next home to take over its mobile phone business, and may have to shut down in desperation. Once the world's third largest mobile phone manufacturer, the old mobile phone player who is qualified to be in the first echelon in the mobile phone industry, how can it be defeated and come back now?
business failure, give up struggling
LG's mobile division has been losing money for a long time and was once supported by revenue from other parts of the company. Judging from LG's 2017 financial report, LG Electronics' profit and revenue for the year showed a substantial increase, but it was mainly due to other business divisions; In the fourth quarter of last year, the department suffered losses of up to 5 trillion won (about 29.3 billion yuan). The future is as uncertain as Sony's phone in a similar situation.
Closing the phone business to cut losses seems like LG's best bet. LG's internal restructuring plan appears to have been completed, and it is reported that internal discussions will tend to completely shut down the mobile phone business. It is not that LG has not considered selling. LG Electronics' smartphone business still has markets in South Korea and North America, but its share is very small, so it is difficult to find a buyer to take over at a high price. LG has negotiated the sale of its smartphone division with two of Vietnam's largest private companies, Vingroup, but both deals have collapsed. If it doesn't sell, LG may decide to shut down its entire smartphone business as a result, and LG could reportedly share its decision on the fate of the business with employees as soon as early April.
All of LG's promises for the future of smartphones are now far off. "Dong-A Ilbo" pointed out that LG has frozen all the smartphone models expected to be launched in the first half of the year. LG's first concept phone with a scrolling screen, the LG Rollable, was expected to go on sale this year, but this plan was shelved along with the planned launch of its strategic smartphone Rainbow in March this year. It's a shame that LG's mobile phone has been losing ground.
Where innovation stops, it becomes a prison
At almost the same time as LG’s announcement of the shutdown of its smartphone business, Xiaomi warmed up its spring new product launch conference with the theme of “Endless Life”. Announcing the new information, the guess here is not to rule out the previously very popular Xiaomi car plan.
It's really sad and happy. The current dilemma of LG's mobile phone business can be said to be closely related to my country's mobile phone manufacturers. In the past few years, Chinese mobile phone brands have grown rapidly in the world to grab share. Under the step-by-step expulsion of domestic mobile phone manufacturers, by 2018, LG officially announced its withdrawal from the Chinese market. That's where the LG phone crisis started.
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