Following the dispatch of three new cell phones in India as of late, LG has now apparently ended the improvement of its cell phone and expects to shade down the division out and out. The organization, according to ongoing reports, may close down its cell phone business instead of sell it. It has effectively halted the improvement of its cell phone arrangement and set a limit on the dispatch of future gadgets.
This isn’t unexpected as we saw a report back in January that expressed something very similar. According to the past report, the CEO of the organization conveyed an inward notice to workers. In the memo, the CEO stated that, due to fierce competition in the smartphone business, they “need to make the best decision about [its] mobile phone business”.
“Even considering the Korean and North American markets, where the LG Electronics smartphone business remains, the global market share is around 1%, so it is difficult to find a buyer to buy at a high price,” an industry official told Donga Ilbo.
Presently, according to the report, LG is going to take a ultimate conclusion about its cell phone business as ahead of schedule as one month from now. Also, the Korean monster has effectively halted the advancement of its impending cell phones, including the LG Rollable Phone that the organization displayed at CES this very year.
The report likewise expresses that LG was to dispatch the replacement of the dual-screen LG Velvet which delivered in 2020 close by the novel, T-molded LG Wing. Because of the new choice, nonetheless, the organization won’t dispatch the gadget named “LG Rainbow” this month, or in the coming months.
The company even tried to sell its entire mobile division or a part of it to Vietnamese Vingroup JSC and Germany’s Volkswagen AG. Furthermore, the CEO’s memo from the previous report stated that no employee will lose their jobs in the company.
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