LG Could Be Bidding The Smartphone Market Goodbye

A few days ago, it was reported that LG would be exiting the smartphone market. LG then made a statement claiming that the report was untrue, and that the company would continue putting out phones, like the handset with the rollable display that they showed off at CES 2021 earlier last week.

However, it now turns out that the report might have been true all along. According to a new report from The Korea Herald, they obtained an internal memo sent by LG’s head of phone business, Kwon Bong-seok, in which he hinted that the company could be looking to change up its strategy, one of which is to maybe leave the smartphone market.

In an official statement made to the publication, the company pretty much confirmed it. “Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice. The company is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business.”

Now, this doesn’t mean that LG is completely out of the game yet, but it seems like they are seriously considering it. We’re not sure when the company will make its final decision, so we’ll have to wait and see.

Tyler Lee
Categories: Cellphones
Tags: LG