As we all that the LG has never been able to make prominence in the market of mobile phones. And now according to the sources of the galaxy reporters, we have heard that LG is now planning to shut the market of the mobile phones on 5th April.
The source claims that the company has made the step due to the losses faced during the last few weeks in the mobile industry. Along with this, the Korea times said that “LG Electronics appears to have decided to pull out of its money-losing smartphone business and entered into a transition process to relocate its mobile communications employees to other business units,”
According to the reports of the sources, the company is facing losses since the year 2015 in its mobile industry but instead of making new innovative ideas in the mobile phone, the company can’t even make the business of mobile phones around the globe. moreover, we also found out that the company was trying to find the buyer for the LG and also talked about it from the company’s like Volkswagen and JSC but nothing like that was done as the deal want so good so both the company’s rejected the offer.
As recently in Jan according to the sources claims that LG spokesperson announced in Jan that the company is not closing the business for its smartphone and maybe this time releasing a new smartphone with a new innovative. The plan of the company this time was to launch a rollable phone in the market. As of now the company was trying to launch a phone with a resizable model and can fit any size and was also capable of transforming.
Now if the news is that LG is shutting the business for its mobile phones then one thing is confirmed that everything that they have thought of doing this year has gone to scrap. And with this, the shut of LG from the mobile market would be a very big loss for the other competitors as it has given a very big contribution to the mobile industry in times. Along with this LG has also launched some of the legendary phones in times like the Nexus 5 and Pixel 2 XL.
A spokesperson of the company told the Korea Times that “All we can say is that every possibility is open,” “Although we cannot confirm that right now, we will announce the specific direction of our mobile communications business.”
And for now, the sources have to wait for confirmation from the LG about their future plans for the mobile industry. And in the morning the news will be there in the headlines that LG has shut the business in the mobile industry.