LG wants its smartphone business to be profitable by 2021, but it doesn’t know what to do

Tram Ho

The LG CEO stated that the company’s smartphone business would be profitable by 2021, but there was no word on how this goal would be realized. Brian Kwon said at a press conference at CES 2020 that LG will expand its smartphone business and continue to launch new products.

LG’s recent smartphones are still disappointing. LG G8 ThinQ is a well-advertised smartphone, but in reality there are not many improvements and changes to attract users. Meanwhile, LG G8X with dual screen is something new, but not practical.

LG muốn mảng smartphone có lãi vào năm 2021, nhưng không biết phải làm như thế nào - Ảnh 1.

LG has been left far behind, compared to other smartphone manufacturers. According to IHS data, the global smartphone market share in Q2 / 2019 has Samsung accounting for 23% of the market, Huawei accounting for 18%, Apple accounting for 11%, while LG only ranked 7th with 3% market share.

In Q3 / 2019, LG said its smartphone segment narrowed its losses from USD 268.4 million to USD 135 million. However, smartphone sales declined, from USD 1.82 billion in Q3 / 2018 to USD 1.27 billion in Q3 / 2019.

LG also did not launch any new smartphones at CES 2020, but may launch the LG G9 and LG V50 at the MWC 2020 event in Barcelona next month.

In the same situation as LG is the neighbor of Sony, Sony’s smartphone business also faces many difficulties. Unlike LG, however, Sony is accepting the truth and making reasonable decisions, such as cutting down on the smartphone segment so as not to affect the business situation of the whole company. Meanwhile, it seems LG will definitely not give up.

Reference: Theverge

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Source : Genk