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.
Apple says iOS 16.4 is coming in the spring, which began this week. In his Sunday newsletter, Bloomberg's Mark Gurman said the update should be released "in the next three weeks or so," meaning a public release is likely in late March or early April.
iOS 16.4 remains in beta testing and introduces a handful of new features and changes for the iPhone. Below, we have recapped five new features ...
As previously rumored, the next-generation iPhone 15 Pro and iPhone 15 Pro Max will feature a unified volume button and a mute button, according to leaked CAD images shared in a video on the Chinese version of TikTok and posted to Twitter by ShrimpApplePro.
Instead of separate buttons for volume up and volume down, the iPhone 15 Pro models are expected to have a single elongated button for...
The iOS 16.4 update that is set to be released to the public in the near future includes voice isolation for cellular calls, according to notes that Apple shared today.
Apple says that Voice Isolation will prioritize your voice and block out the ambient noise around you, making for clearer phone calls where you can better hear the person you're chatting with and vice versa.
The iOS 16.4 release candidate version that was provided to developers today appears to hint at a new set of AirPods that could be coming in the near future. According to @aaronp613, the beta features references to AirPods that have a model number of A3048 and an AirPods case with a model number of A2968.
There have been no rumors that new AirPods are on the horizon, and it is early for...
Nothing today announced the launch of its second-generation wireless earbuds, the Nothing Ear (2), which offer many of the same features as Apple's AirPods Pro 2 at a lower price point. We went hands-on with the Ear (2) earbuds to see whether they're a viable alternative to the AirPods Pro 2 for those who want to save some cash.
The Ear (2) earbuds are the successor to the Nothing Ear (1),...
Apple today seeded the release candidate versions of upcoming iOS 16.4 and iPadOS 16.4 updates to developers for testing purposes, with the software coming a week after the launch of the fourth betas. The RCs mark the final version of the software that will be provided to the public in the near future. Registered developers are able to download the iOS 16.4 and iPadOS 16.4 updates...
Apple is tracking the attendance of its employees at offices using badge records in order to ensure they are coming in at least three times a week, according to Platformer's Zoë Schiffer.
Since April 2022, Apple employees have been operating on a hybrid home/office work policy as part of a gradual return strategy following the pandemic, with staff required to work from the office at least...
While the iPhone 15 series is still around six months away from launching, there have already been plenty of rumors about the devices. Many new features and changes have been rumored for the iPhone 15 Pro and iPhone 15 Pro Max in particular.
Below, we have recapped 10 changes rumored for iPhone 15 Pro models that are not expected to be available on the standard iPhone 15 and iPhone 15 Plus:A1...
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.