LG become the newest victim in the business cell phone when last April decided to go out of business. Actually, LG’s decision to shut down its mobile phone business is hardly surprising news, because since years ago, its cell phone business has been battered.
For years, from Q2 2015, to be precise, their mobile phone business has always been at a loss. Finally, in 2020, LG’s mobile phone business recorded a loss of USD 715 million.
LG’s fate is inversely proportional to its compatriot, namely Samsung, which can still dominate the mobile market for several years, and even if kicked off the top spot, they are still in the top three — or at least — the top five.
LG’s market share globally is currently only 1%, far behind many other manufacturers. Including the ranks of companies from China that dominate the mobile phone market, such as Oppo, Vivo, Realme, and Xiaomi.
Their emergence is also what makes cellphones LG increasingly less competitive because they dare to sell cheap with high specs.
The last time an LG phone sold a hefty amount to make it to the top-selling list was in 2014, with the LG G3 selling 10 million units, and in 2013, when the LG G2 sold 3 million units.
Practically after that, there were no phones made by LG that entered the list of best-selling phones, only being the shadow of cellphones made by Apple, Samsung, Huawei, and other manufacturers.
One of LG’s biggest achievements was in Q3 2013, when they entered the top three of the mobile phone market share in the United States.
The cell phone business is tough. Many companies have fallen victim to this. Call it BlackBerry and Nokia, even though they do compare LG with the two companies it doesn’t feel right.
Next page, follow in the footsteps of Nokia and BlackBerry>>>