LG Wing with a swivel screen (Photo courtesy: Times of India)
- An earlier report by Reuters mentions that LG tried to offload their smartphone business to Vietnam’s Vingroup before talks fell through
- LG was a pioneer with many firsts like an ultra-wide lens as well as a swivel screen with two selfie cameras
- LG will sell their remaining smartphones till stocks last and continue with their other business as usual
South Korean electronics giant LG exits the smartphone manufacturing business following weeks of speculation about such a monumental decision.
The company calls it quits after 6 years of losses in the segment and makes this the first major smartphone manufacturer to end their journey in the smartphone manufacturing market due to mounting losses. They will continue to make and sell other electronic products.
They will wind down their smartphone business by July 31st, 2021 according to their statement. They will continue to sell their remaining stock of smartphones until shutting shop and move to online sales till stocks last.
LG’s market share is just shy of the double-digit mark in the US and their exit comes as welcome news for Apple and Samsung who will duke it out to absorb that space left by the South Korean manufacturer.
Although I can’t remember a lot of family and friends owning an LG smartphone in the past 5 years, the smartphones by LG certainly will be remembered for their innovative design before the competition, with the most notable innovation was that they were the first to offer a wide and ultra-wide camera lens.
Along with this, LG was also the pioneer when it came to providing a hi-resolution Quad HD display as well as provides two selfie cameras in one of their funkiest smartphones, the LG Wing which has a swivel screen as well as a normal screen. Despite such innovations, LG smartphones have never been the first manufacturer you’d think of when it’s time to buy a new phone.
With competitive pricing for smartphones that are riddled with problems, sales took a nosedive for LG and made it a no-brainer for people to choose alternatives that had better and more reliable features.
Despite all the niggles, I am sad to see LG close shop and share a metaphorical salute while I reminisce about my Google Nexus 5 which I bought back in December 2013 with my first salary.