Rumors of LG’s exit in the smartphone grows as the company reported continued losses for 15 consecutive quarters now. In the Philippines, LG continues to thrive in the consumer electronics market such as home appliances and home entertainment (such as TVs), its smartphone business in the Philippines have made an exit based on the number of LG mobile stores closed down. Another thing, LG Philippines did not offer the LG V40 here already.
But according to LG, it will continue to make new phones despite the losses. According to a report from GizChina, LG points out that their phones plays an important role in their IoT (internet of things) ecosystem
Statement from Quiao Jinjin, LG Electronics CEO
“LG’s business portfolio includes cars and home appliances, both of which are related to smartphones, so we have not considered exiting the smartphone business.”
LG is currently undergoing restructuring in its smartphone business. It is said to continue until next year. The company will also rethink how they make their phones including their software.
In the Philippines, on the other hand, LG denies any reports of its exit in the local smartphone market.
– LG Philippines Official Statement
“LG Electronics is working on improving its business structure to enhance the overall business efficiency of LG’s mobile business. However, rumors that LG will be withdrawing its mobile business is not true. This is a part of our long-term strategy to improve business competitiveness and expand presence in the future global market. LG will continue to strive to provide better products and services to its consumers and build consumer trust.”
The fate of LG’s smartphone business is hanging by a thread in the Philippines. The question of after sales support and warranties has to be addressed since the official statement did not mention these concerns.
LG is scheduled to announce the LG G8 which is their 2019 flagship smartphone that will directly compete with the likes of the Samsung Galaxy S10 series in the coming weeks.
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