Under fierce competition, LG Mobile abandoned the smart phone market in China

LG has announced financial results for 2017. Over the past two years, LG's mobile phone business has suffered heavy losses and only achieved a small profit in the first quarter of 2017. Look at the prices. Recently announced, the company laments that competition from Chinese brands is pushing LG away from the Chinese smartphone market. Reports from China also show that LG is withdrawing from the smartphone market. An LG representative at the Beijing office confirmed this.

Under fierce competition, LG Mobile abandoned the smart phone market in China Picture 1

LG's decision to drop mobile phones in the world's largest mobile phone market is directly related to the company's dismal growth in this segment, with a quarter of profit and 11 quarters of losses since early 2015. The Chinese market is highly saturated and even small domestic mobile companies are involved and there are several manufacturing facilities.

Under fierce competition, LG Mobile abandoned the smart phone market in China Picture 2

The report shows that during 2016, LG sold only 160,000 phones in China out of a total of 480 million shipments. LG hasn't launched any smartphones in China in 2017, the latest device launched in China is LG G5 SE in May 2016. LG will have to focus on the North American market and Europe, but they will face stiff competition from rivals like Samsung, Apple, and perhaps some Chinese brands like Huawei and Xiaomi.

Chinese smart phone manufacturers have impressed with good and affordable products in recent times and even made Samsung and Apple lose market share in China and India smart phones. Degree. In other news, LG will not launch G7 at MWC this year but will release the upgraded LG V30 + smartphone.

1. Apple's growth is stalling in the Asian smartphone market

Do you think LG can make a significant impact in the smart phone market in North America and Europe? Let us know your thoughts in the comments section below.

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