When it comes to the smartphone market, Lg has not been able to make great progress as it hoped for. Although the company has been trying to bring some really great looking smartphones like the recent T-Wing in the market, they have not been able to get the kind of response from the customers as they wanted. It was expected that due to the low-performance smartphone business from LG, we could see the end of it sooner or later. Now it seems that LG has finally decided to close their smartphone wing.
The company has been trying to bring new technology and design in the market now and then but since they were outdated and overpriced, they were not able to retain the market share, which further kept on decreasing. The rumors that have been around recently hinting that the company has been preparing a statement where it would announce its exit from the smartphone market. However, these rumors were denied by the company stating them as false, but the recent changes in the company state otherwise.
Kwon Bong-Seok, Chief Executive at the Korean Company has stated that there are going to be big changes in the mobile division of the company and the company will make sure that the employment is maintained. As per the report, the company is realizing that it will no longer be able to compete in the ever-changing market of smartphones. The company has already started shifting their mobile division employees to other divisions and we can soon expect the company to make an announcement in the market.