Now, it turns to LG to pull its all market out off China. From the last couple of months, it looks like LG has hardly made a profit in the mobile phone division from the Chinese market. LG has already unveiled its revenue which was $55.4 billion last year and over a year LG has made hardly 10.9% profit even though the company launched some of the best smartphones.
As reports suggest the Korean Company LG is planning to exit the world’s biggest mobile phone market which is China. If the reports are right, then I think LG is taking this step to stop its smartphone struggle.
LG did not get the healthy sale this time on their mobile phones. Reports say LG has only sold out the 160,000 handsets in China during 2016. After that LG has not launched their devices in China which includes mainly its two flagship devices: LG G6 and V30.
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Anyways, as per the LG claims, this company is now facing a huge loss in the mobile phone market. All the profit has been generated because of their great technology implementation in the Home Appliances and TVs. As per the reports, LG was facing the loss of the $192.33 million in the mobile phone market during the fourth quarter. Before that LG’s mobile phone market was reportedly facing the loss of the $331.37. So, moreover, we can say this might be the improvement.
LG has posted its profit chart and with that, in answer, LG has said that they are facing really strong competition in the mobile market. The huge Chinese mobile phone makers especially include the Huawei, Oppo, Vivo, and Xiaomi are now exactly behind the Samsung and Apple. That was a time that there was no any huge competition in the market. However, now this small Chinese smartphone makers in the list of the biggest smartphone companies.