Before the Chinese invasion of the smartphone market, Samsung, LG, and Sony were the top three leaders ruling the tech industry. But looking at the current scenario, it’s not the case at all. So, the biggest question arises, who suffered the most from this abrupt change? Well, the answer is clear! it’s LG.
It is very disappointing that the Korean tech giant’s biggest rival, LG has finally given up on the smartphone industry due to its bad performance and extremely low revenue.
Moreover, the phones which are launched recently including the Wing and Velvet will be sold as usual until the stock runs out. However, it will provide three guaranteed OS update to its premium phones released in 2019 and later, while certain 2020 models such as LG Stylo and K series will receive two OS updates.
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LG’s smartphone business has not seen profitable revenue in the past couple of years. It’s not that the firm was not making efforts to get things back to their past conditions when it was selling quite a good number of smartphones. But unfortunately, these tactics never worked out.
The company even tried selling its phones via various offers including cashback, discounts, and exchange benefits, but it also didn’t change the situation. This resulted in LG, to quit the mobile smartphone business globally.
However, this decision to quit the smartphone business is not surprising at all. We had been hearing rumors about this for a quite long time including fewer mobile launches in recent times which is also one of the causes, for this quitting step.
On the other hand, Samsung understands these aspects of business quite well and it not only takes care of consumers but also innovates various new technology through R&D which the company always promotes through fine marketing skills.
Therefore, it is one of the biggest tech firms in the world with a huge income and a big user base. Which the company earned by selling leading-edge electronic products including Galaxy phones and other smart gadgets, globally.
(Via)
