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.
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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