LG on the Verge of Exiting Smartphone Market
LG has been struggling to establish itself in the smartphone market for almost a decade now but it has failed to do it so far. The past five years have been rough as the company has lost over $4.5 billion. The company is nowhere near its rivals, and it’s high time for them to make a call about their future in the smartphone market. The CEO Kwon Bong-Seok has already informed the employees that LG is considering some huge changes in its smartphone business in the coming months. Acknowledging the fierce competition in the global smartphone market, Kwon has told his employees that the company will now take the final call about its future. They will be considering all the options including withdrawal, sale, and downsizing. The company has made it official and although nothing is decided yet, there is a possibility that we might see the end of LG as a smartphone manufacturer. A few weeks ago, there were reports that LG was considering exiting the smartphone market but the company...