After billions in losses and a string of failures, the technology giant may sell its mobile division as early as next year • "The company is considering all possible steps," the company's CEO wrote in a letter to employees
The veteran actress is giving up?
After a loss of more than $ 4.5 billion in the last five years, South Korean technology giant LG is considering abandoning the smartphone market starting next year, according to a report in The Korea Herald.
According to a local media report, LG CEO Bong-Sawk Kwon sent a letter to the company's employees in which he wrote about the expected changes and future plans: For her, "Kwon wrote, adding:" The company is considering all possible steps, including a sale, a general exit from the field or a reduction in the field of mobile devices. "
In a statement to TheVerge, LG confirmed that the letter written by the company's CEO to employees was genuine, but stressed that a final decision has not yet been made regarding the sale of its mobile division.
"LG's management is committed to making any decision that will be required to bring about the solution to the business challenges in the mobile field in 2021," the company said.
Did not recover
The main blame for the failure of the mobile division lies in the sudden death phenomenon of its flagship smartphone in 2015, the LG G4.
As you may recall, customers who purchased the company's smartphone were surprised to find that it was suffering from a Bootloop problem (an endless loop of restarting and shutting down the device, without any possibility of controlling it).
Following the phenomenon, lawsuits were filed against the company around the world, including Israel, which caused it severe damage to its image.
Another failure of the company was recorded in February 2016 with its next flagship device, the LG G5.
It is the company's modular smartphone that competed head-to-head in Samsung's flagship series at the time, the Galaxy S7, and failed to arouse much interest among consumers - who also remembered the company's glitch with the LG G4.
About six months after the release of the next generation, the LG G6, the company recorded a financial loss of $ 117 million.
Next came the V series, with the V30 and V40 failing to make the company rise, and while its competitors - like Wavy and Samsung - managed to understand the market, LG was left behind and often decided to market its smartphones in very specific markets.
The technology giant recently unveiled the LG Wing, the first device in Explorer Project, a new venture by the company that seeks to address different needs and stretch the boundaries of the user experience.
Is this also her latest device?
time will tell.
