FP trendJan 22, 2021 5:38:29 PM IS
South Korean tech giant LG Electronics is struggling with its smartphone business, and the highly competitive market could even force the company to complete its proliferation soon. LG’s CEO Kwon Bong-Seok has reportedly given employees a hint about their exit from the smartphone market in 2021 The Korea HeraldLG Electronics has lost around 5 trillion won or $ 4.5 billion in the smartphone space over the past five years. The LG boss has written an internal note to the employees, in which he deals with the increasing difficulties in competition with competitors.
LG G8 ThinQ
Although an important decision is imminent, the CEO has assured all employees that they will “keep their jobs” so there is nothing to worry about.
Citing competition in the market “getting tougher”, a LG official told the portal that the company is currently “considering all possible measures” to deal with the slump. These measures include “selling, withdrawing and dismantling the smartphone business”.
The official said, “As competition in the global mobile device market becomes fiercer, it is time for LG to make a cold judgment and make the best choice.”
A company spokesperson has confirmed that this internal memo for the tech portal is indeed real The edge. The said spokesman also claimed that “nothing was finalized”.
Formerly a Korean socket TheElec An internal memo from LG indicated that upper management had directed employees to stop working on the development of one of the telephone projects. On the grounds that a final decision will be announced by the end of January, it was said that work on the rollable phones will only continue. However, LG’s global communicator Ken Hong confirmed that the reported memo was completely false Android police. TheElec has since deleted the report.
Then LG offered a look at his first mobile phone At CES 2021, it is expected that this will be one of the last smartphones developed by the company.
