LG Considering Exit From Smartphone Business, Halts LCD Production for iPhone
LG is considering exiting the smartphone business entirely amid declining shipments and accrued losses of $4.5 billion over the past five years (via The Korea Herald).
LG CEO Kwon Bong-Seok cautioned staff earlier today that the company is re-evaluating its presence in the smartphone industry:
Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice. The company is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business.
He added that regardless of any change, the company will retain its current employees from the smartphone division and reassign them elsewhere.
LG has seen rapidly declining smartphone shipments in recent years, and the company is now believed to hold a market share of just two percent. LG has posted major financial shortfalls in its smartphone segment for 23 consecutive quarters, reaching a total loss of $4.5 billion.
When taking office as CEO in January 2020, Kwon pledged to turn the company's smartphone business around. The CEO's latest comments therefore appear to be an admission of failure to make the segment profitable.
At the same time, LG is reportedly ending its production of LCD displays for the iPhone, according to The Elec. LG Display had previously attempted to supply LCDs for the second-generation iPhone SE, but failed to meet Apple's requirements, leading to Japan Display and Sharp being selected as suppliers instead. LG's factory that previously made the components will be repurposed to manufacture automobile display panels.
Earlier this month, LG unveiled one of the world's first rollable smartphones at CES, as the company has endeavored to explore unusual designs to lure in customers. The future of this device, and other LG smartphones such as the LG Velvet and LG Wing, are now highly uncertain.
Related Stories
Next year's iPhone 14 Pro and iPhone 14 Pro Max will feature hole-punched LTPO OLED display panels supplied by Samsung and LG, according to Korean site The Elec.
Rumors that the 2022 iPhone models won't have a notch started in March of this year, when Apple analyst Ming-Chi Kuo said they will instead adopt a hole-punch design, a design that Android devices have used for a few years now. The...
Apple is "very near" to signing an agreement with LG and Magna to build its long-rumored electric vehicle, according to The Korea Times.
LG Electronics has publicly undertaken a joint venture with the Canada-based automotive supplier Magna International, in a collaboration preliminarily titled "LG Magna e-Powertrain." LG Magna e-Powertrain is currently valued at $1 billion and will...
The Apple Music app for LG smart TVs is today rolling out to users, with LG now promoting the app on social media.
The Apple Music app for LG smart TVs allows subscribers to stream over 90 million songs, as well as playlists, radio stations, and music videos, with no need for any external hardware such as an Apple TV. The app supports a range of core Apple Music features, such as synced...
LG is working to supply Apple with OLED display panels for two iPad models before providing larger panels for the company's first OLED MacBook around 2025, The Elec reports.
LG Display is reportedly aiming to supply Apple with Gen 8.5 OLED panels for Apple's first OLED MacBook. The device is said to be scheduled to launch "around 2025."
LG has been evaluating the deposition process to...
Xiaomi intends to step up its challenge to Apple, the company's founder announced this week (via South China Morning Post).
Xiaomi founder and chief executive Lei Jun said on Chinese social media platform Weibo that the company will specifically focus on the high-end segment of the global smartphone market in an effort to directly rival Apple, attempting to fill the void left by Huawei....
After five grueling years of financial losses and uncertainty about the future of its mobile handsets, LG Electronics today announced its intention to shut down its smartphone division.
In a press release, LG says the decision to shut down its smartphone business will allow it to focus on other sectors such as artificial intelligence, home computing, and business-to-business solutions.
LG's ...
Apple is reportedly eyeing a new partnership with LG that would allow the South Korean tech giant to sell iPhones, iPads, and Apple Watches at its more than 400 retail "LG Best Shops" in South Korea, according to a report from Business Korea.
LG recently shut down its smartphone business, leaving retail space previously used for marketing its handsets being left empty. Apple is now,...
Apple has removed the 27-inch LG UltraFine 5K display that was previously a Mac user's go-to option for external monitors from its online store following the launch of the Studio Display.
LG and Apple had worked on the display together, promising tight integration with macOS. The UltraFine 5K display featured a 5K display, P3 wide color with 500 nits of brightness, and one Thunderbolt 3 port ...
Popular Stories
Upon the release of the second-generation AirPods Pro, the AirPods Max became the oldest current-generation AirPods product still in Apple's lineup. Introducing several new features like Adaptive Transparency and the H2 chip, the second-generation AirPods Pro may provide some of the best indications yet of what to expect from the second-generation AirPods Max.
Almost two years later, rumors...
The Apple Watch Series 8 and Apple Watch Ultra are now available to purchase, but if you aren't interested in these updates you can save a lot of money on Series 7 models right now on Amazon.
Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a purchase, we may receive a small payment, which helps us keep the site running.
The best deals are on cellular...
Apple today released iOS 16.0.2, addressing a number of bugs that iPhone 14 owners have been experiencing since the new devices launched. iOS 16.0.2 comes two weeks after the launch of iOS 16, and it follows iOS 16.0.1, an update made available to iPhone 14 owners on launch day. The update is available for all iPhones that are capable of running iOS 16.
The iOS 16.0.2 update can be...
Apple plans to release new MacBook Pro models in the fourth quarter of 2022, according to supply chain publication DigiTimes. The report does not mention specific models, but it very likely refers to the next-generation 14-inch and 16-inch MacBook Pros given that the 13-inch model was already updated earlier this year.
There has been uncertainty surrounding the timing of new 14-inch and...
Sunday September 25, 2022 6:50 am PDT by
Sami FathiApple may decide to release its remaining products for 2022, which include updated iPad Pro, Mac mini, and 14-inch and 16-inch MacBook Pro models, through press releases on its website rather than a digital event, according to Bloomberg's Mark Gurman. In his latest Power On newsletter, Gurman said that Apple is currently "likely to release its remaining 2022 products via press releases,...
Thursday September 22, 2022 7:57 am PDT by
Sami FathiA copycat version of the iPhone 14 Pro's Dynamic Island has arrived on Android's Google Play Store in the form of an app called "dynamicSpot."
The app, still in beta, offers customers several different experiences at the top of their smartphones. In its current form, dynamicSpot offers playback control for songs, timers, battery status, and more features coming soon, according to the app's...
Friday September 23, 2022 9:40 am PDT by
Sami FathiCustomers who personalize their second-generation AirPods Pro charging case with an engraving will now have that engraving reflected directly on iOS as they pair and connect their AirPods Pro. Apple allows customers to personalize their AirPods Pro charging case with a special engraving that can include select emojis and Memojis. Unlike before, starting with the second-generation AirPods...
With new Apple Watch Ultra and Series 8 models now in the hands of customers, Apple has brought a host of smart new features to many people's wrists. But there's more to come. Apple has a handful of additional features in store for Apple Watch Series 8 and Apple Watch Ultra owners before the year's end, and some of them are watchOS 9 functions, which means they will even work on older Apple ...
Apple today explained why the new silicone ear tips for the second-generation AirPods Pro are not officially compatible with the original AirPods Pro.
In an updated support document, Apple said the original AirPods Pro ear tips have "noticeably denser mesh" than the second-generation ear tips. Apple did not provide any additional details, but the mesh density could result in acoustical...
Top Rated Comments
Even if you sell massive amounts of a product and gain sizable market share, you can still be bleeding money and not be viable.
This is not about LG not innovating, not doing great phones and quality builds, I would say it has nothing to do with sells being low even, or not marketing properly.
The premium bracket of smartphones is cornered with Apple taking in 80-90% of the profits of the whole worldwide smartphone business and the rest 20-10% left to scramble by a myriad of manufacturers on all price brackets, from $50-80 USD borderline dumb android phones all the way up to $2K foldables.
Think about this for a second. Then, include all the emerging value-oriented Chinese manufaturers into the equation and you’ll see how even Samsung might be in trouble going forward.
https://www.forbes.com/sites/chuckjones/2018/03/02/apple-continues-to-dominate-the-smartphone-profit-pool/