After the company’s smartphone division showed continues losses, LG has decided to say goodbye to the largest, and most competitive smartphone market on the planet, China. Despite generating a whopping $55.4 billion profit last year, LG’s mobile phones continue to perform poorly in the industry and the company seems to only be relying on their general electronics and other products.
The Chinese market is tough to penetrate with global giants Apple and Samsung flourishing through hyped flagship releases every year and an unchallenged brand identity and loyalty along with local brands which seems to be taking over the world and growing in popularity whilst amassing critical and public acclaim with each passing year such as Huawei, Xiaomi, and Oppo. Whilst LG products have been praised in the past, the G7, their flagship phone and the sequel to the G6 has been delayed long enough to make LG a dormant figure in the fast paced smartphone industry.
LG holds less than 1% of the market share in China, having sold a mere 160,000 handsets last year. It must be noted that the LG G6 and V30 were not released in China on the rightly placed fear of the phones being a flop.