{"id":217296,"date":"2021-04-02T08:52:38","date_gmt":"2021-04-02T05:52:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/lg-will-reportedly-shutter-its-smartphone-business-next-week\/"},"modified":"2021-04-02T08:52:38","modified_gmt":"2021-04-02T05:52:38","slug":"lg-will-reportedly-shutter-its-smartphone-business-next-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/lg-will-reportedly-shutter-its-smartphone-business-next-week\/","title":{"rendered":"#LG will reportedly shutter its smartphone business next week"},"content":{"rendered":"

“#LG will reportedly shutter its smartphone business next week<\/strong>”
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\nLG was one of the first manufacturers to jump on the Android bandwagon more than a decade ago \u2014 it launched its first handset based on this OS back in 2009. But there\u2019s a possibility that we might not see an LG-branded phone in the future.\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

After failing to sell its smartphone business, the company is considering shutting the unit down. According to a report from The Korea Times<\/a>, LG will announce this move on April 5, during its board meeting.<\/p>\n

In January, multiple rumors of LG selling its smartphone division came to the surface after the company\u2019s leaked internal memo to staffers indicated this step. A report published from The Korea Times<\/a> at that time indicated that VinGroup, a Vietnamese conglomerate, was already in talks with the tech giant to strike a deal.<\/p>\n

We didn\u2019t hear anything about this partnership after that, so presumably, the deal fell through. People familiar with the matter told The Korea Times that the company considered many options, including sales, splits sales, or shut down \u2014 and eventually chose the last one.<\/p>\n

Despite all these rumors, there\u2019s no official word from LG yet. Last month, during the shareholder\u2019s meeting, the company\u2019s CFO,\u00a0Bae Doo-Yong, said that all possibilities regarding the smartphone business remain open<\/a>.\u00a0<\/span><\/p>\n

Over the years, LG has made some great phones including the G series<\/a> and the Nexus 5. The company tried to stand out in a crowd by including DACs (Digital to Analog Converters) and removable batteries. In recent times, it has introduced phones such as the LG Wing that explored an entirely different form factor. But all of this hasn\u2019t been enough to draw in money.<\/p>\n

LG\u2019s phone division has lost a lot of money. In Q4 2020, it lost\u00a0KRW248.5 billion ($222.9 million), which was better than Q4 2019, when it lost\u00a0KRW322 billion ($285.6 million).\u00a0 This was the 23rd consecutive quarter where the business lost money. So if LG can\u2019t sell the smartphone unit, you can\u2019t really blame it for shutting it down.<\/span><\/p>\n

Did you know we have a news<\/a>letter all about consumer tech? It\u2019s called Plugged In \u2013
\n and you can subscribe to it right here<\/a>.
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\n Published April 2, 2021 \u2014 05:52 UTC\n <\/p>\n<\/p><\/div>\n