LG Allegedly Leaving China Smartphone Market
LG Mobile is purportedly folding up its shelves from the Chinese smartphone market, according to reports from local publications state.
The news follows the release of LG’s 2017 financial results last week. Though the record-breaking revenue of LG Electronics as a whole appears good, the mobile division to be specific recorded a $192M operating loss for Q4, due to strong competition from Chinese brands as quoted in the press release.
Chinese brands have proven too tough of a competition in their home market, apparently – LG was estimated to have sold just 160,000 units in the country in the entire year 2016 out of an estimated 480 million total shipments. The G6 and V30 smartphones are yet to be officially launched in China either. Indeed, it’s a bit odd to be greeted by the G5 in the mobile section of the LG China website. Might as well just pull the plug then