lg velvet camaras 7 thumb800 1

LG could stop making smartphones

lg velvet camaras 7 thumb800 1

LG has great prestige among the manufacturers of smart phones, since very few brands can boast of having been operating in the market for more than 20 years, as the company currently treasures.

However, it seems that these are not good times for the brand, since we have just learned that it would be considering abandoning the smartphone manufacturing business, from the possible reduction of business, to even the sale or withdrawal from the market. 

This information has been released through the Korea Herald , which publishes a statement that would have been sent by the company’s CEO, Known Bong-seok, to all its employees. 

The manager affirms that “the company is considering all possible measures, including the sale, withdrawal and reduction of the business of smartphones.” It is not the first time that something like this has been heard, but the moment in which it is revealed is surprising. 

And it is that a few days ago, the global head of corporate communications of LG, Ken Hong, described the rumors of previous months as completely false and without any credit. 

Despite the fact that the smartphone industry continues to boom, with the entry of new brands from China to the fore, the more traditional ones have had a difficult time in recent years to maintain their hegemony. 

This is the case of LG, which, as happens to reputable brands such as Sony, barely have a market share that in the past year 2020 represented a figure of 2% of the sales of devices worldwide, as we can extract from Statcounter . 

The company has made an effort in recent years to offer differentiating terminals from other brands, as we have seen with the arrival of the LG Wing and LG Velvet models , both combining the double screen to guarantee an innovative user experience.

LG Velvet with double screen

In fact, coinciding with the celebration of CES 2021, we have also learned that LG would be working on its mobile project with a rollable screen whose product name would adopt the term LG Rollable.

What is a fact is that the sales figures do not seem to have accompanied the company in recent years, where it has always maintained very efficient mid-range models, especially in the area of ​​photography, and also in the more premium range, but with strong competition. 

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