Sadly, LG will be exiting the smartphone business next week as it has failed to turn a profit on all of its fascinating creations. Like Samsung, LG has been dedicated to developing game-changing ideas to try and change how we use smartphones. From dual or rotating screens to a rollable mobile addition to the company’s rollable screen lineup, the company has spent millions in R&D to make it all happen.
However, the company was never able to make it back in sales. Although the company had a few good hits, it wasn’t enough to stay ahead, and now the mobile side of LG will be shut down next week so the company can focus on other opportunities.
Thankfully, the company appears to be relocating its employees to other areas to reduce the loss of jobs. This makes for comforting news since there has been so much loss already thanks to the COVID-19 conditions that swept the globe.
LG has been considering the idea of selling its mobile business in recent months. However, the company was unable to find any fetching offers. This is clearly what led to the decision of simply walking away. This, of course, doesn’t mean that it is the end of LG in the mobile market. LG can always make a comeback in the future if the company is ever brave enough to give it another go.
We do benefit from companies like LG who help contribute to keeping everyone else on their toes and pushing the technological evolution forward. So hopefully, this isn’t the end.