LG and Samsung are mega-companies in the electronics space, but the former usually plays second fiddle when it comes to phones. A lot of the time LG phones are well reviewed. However, they lack a certain “It” factor that Samsung seems to have captured. LG’s mobile division has been struggling for a while and now they are suspending mobile phone production in their home country of South Korea.
This decision comes as the company is taking steps to cut costs and optimize their mobile business. Korea is primarily where LG’s high-end flagship phones are produced. The company is reportedly relocating the production to an existing plant in Vietnam. The Korean plant is said to have accounted for 10-20% of all the company’s handsets.
We don’t expect LG to quit pumping out smartphones any time soon. Despite poor sales, LG has consistently tried to compete with competitors like Samsung. LG is still a household name and has the brand-recognition that many other Android OEMs lack. There’s a lot the company can do to improve its position in the smartphone market and win back customers. We’ll see if this decision helps move things in the right direction.
Do you think LG can turn around its mobile business?
Source: Reuters
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