LG Is Stopping Smartphone Production!

LG Is Stopping Smartphone Production!

LG Is Stopping Smartphone Production!

LG is planning to suspend mobile phone production in South Korea because it has long suffered from chronic damage to its mobile unit. The details are in our news.

Lately, LG Electronics has been planning to take mobile phones in South Korea with a hanger and move production to its existing plant in Vietnam.

LG Is Stopping Smartphone Production!

LG is stopping smartphone production!

While LG Electronics is forced to compete with its biggest competitor, Samsung, it has become more and more troubled by the fact that China has recently faced strong opponents such as Huawei, Xiaomi and Oppo. The company is in the process of constant reform and optimization to survive in the mobile device industry, but it has never been able to get lost in the mobile unit. Last resort, the main homeland of South Korea, the phone production of the company that finds an end to the production facility will move to Vietnam.

Although LG performs well in home appliances and TV products, the mobile division has been hurting for a while. The South Korean company reported a loss of $ 72.5 million in the fourth quarter of 2018. The company’s loss-making smartphone segment lost more than $ 700 million in 2018.

The company has smartphone manufacturing facilities in South Korea, China, Brazil, Vietnam and India. The South Korean plant, however, produces 10 to 20 percent of the company’s top smartphone production. Because its best smartphones were marked by, Made in South Korea gas, it meant a separate prestige for the company.

For additional information, LG has long been considered the third choice in the US market after Apple and Samsung. In addition, the company’s homeland in South Korea still has a loyal user group. However, the fact that the company will not be able to sustain its production activities in South Korea means that LG’s business in the mobile device market will gradually decline.

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