LG will stop the production of smartphones in South Korea

LG will stop the production of smartphones in South Korea

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LG is one of the makers most concerned about the negative impact of competition on the smartphone market. The Korean giant continues to record financial losses from its mobile division, despite the premiere of attractive devices such as the LG G8 ThinQ.

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One of the main reasons for the situation is the dominance of Samsung and Huawei, who continue to aggressively expand their market share at the expense of other Android manufacturers in the industry.

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However, LG does not intend to withdraw from this segment and will try to become a more influential factor by optimizing its business strategy. New data released by the Johann news agency reveals that the company intends to stop the production of smartphones in South Korea.

Instead, LG will transfer production to an existing plant in Vietnam. The most likely reason for this is a reduction in operating costs.

This is just one of the measures taken by the company to put an end to the negative trend of financial losses in the mobile sector, which lasts seven quarters. Of course, it will take time before we see the first real results of moving production into their existing plant in Vietnam.

While LG is trying to regain its lost position on the smartphone market, it will continue to rely on TVs to generate revenue.

LG will stop the production of smartphones in South Korea

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