LG is not planning to exit the smartphone business any time soon. This is according to a statement by the company’s CEO, Qiao Yujin.
LG’s mobile business has posted losses in the last 15 quarters, that has amounted to $2.5 Billion. This has seen its market share dwindle to just 1.9%. The company has also exited a number of key smartphone market such as China.
However, the company will remain active in the space primarily due to the immense potential benefits of the internet of things (IoT) tech.
Smartphones are at the core of the IoT tech and therefore, LG’s commitment to its mobile business could pay off in the future.
The company is planning a comeback and has already instituted a number of restructuring programs that will help it regain consumer trust. LG is also planning to unveil a flagship smartphone in 2019.
Kevin is a tech enthusiast and the lead writer at MobiTrends.co.ke. He has been writing about smartphones and tech related topics since October 2012. About Us | Contact Us
