To clarify your query, Firstly we'll have a brief on LG Electronics where you can get to know what and how all this happened eventually!
LG Electronics - South Korean's largest electronic house. This comes with the first major smart phone brand came into the market with high on expectations and sources over years back.
LG been maintained with an spot of 3 number which is the highest smart phone market in US single long time which continues the handsets of inventory to line up only for certain period of time.
Long live phones which are unique and vibrant with more powerful on the way. These came out like never make off with the smart phone arena. As we come with it all the way long we can see this LG closes down all its Mobile phone unique way out which is stewing all the LG phone users.
Furthermore, it is Official now!! LG is quitting smart phone business; they cleared made a prepared statement from their South Korean company. They announced that they are quitting the smart phone. As they said they took this decision because of loss making through mobile division which is not showing a growth in their resources. This is the reason they wanted to shutter the LG smart phones and intend of areas they can find survival and growth which is their electric paths.
The LG owners have mentioned that they are in curious to launch new electric paths with all the components like electric vehicle, connected devices, robotics, artificial intelligence, smart home products and end to end business solutions which among are more reliable phones which are more showcased the area of CES 2021.
And Most of LG users are struck in the trouble thinking, how to handle their smart phones. What to do If the company shut downs? No Need to Worry!! LG have already taken care of all the attributes regarding this self assistance and support.
The Existing LG phones will continue to sell until the inventory finishes. The LG models which are already in the market and been still having inventory are Wing, Velvet, Q-series, W-series and K-series which are even available for you in stores and online with all the software updates patented over. So, if you're a lover of LG models and wanted to experience them! This is the last change you can grab them in your life time. As these smart phone models will not be launched back after years also.
Moreover, LG has already provided enough service support and software updates for all the existing customers until the period of their smart phone existence. LG also came to say that; based on the highest smart phones location their customer support will be applicable. This may vary from customer location to location. So, this is based on true luck if your location have that customer support or not will be varies.
This clearly shows, this is not possible for the Velvet series users in India to have the same update from the European audience. The company is collaboratively happy and varied with suppliers and business meets throughout the mobile division sector.
Finally, all this happened with the efforts which afloat failed in the market. Moving ahead, LG will never be leverage with mobile expertise and comes with the develop mobility and related technologies. LG can't make its step with 6G innovation and core technologies developed over decades with business operations and retained to come with the existing future products.
Several smart phone owners and manufacturers rely on software services which can be made out of payments and make money ahead. Since Samsung launched its portfolio of services which LG can't meet them throughout the years? LG is more dependent of only 2 markets. They are Korean and North American brands. This is which got them the risk of meeting the counter point said by Neil Shah the partner of research firm.
Right now, Company has only 2 percent overall shares. As they are supplying only 23 million phones last year which is not the market for LG. As you can see Samsung has hit a mark of 256 million smart phones over last year according to research provider Counterpoint.
Moreover, North America which does have a sizeable comes with a Latin America which has their mark of No.5 marking brand. Long with this, South America, Samsung and Chinese companies are targeting the most mid-end segment which can be more capes to investment with securities.
Furthermore, while other well-known mobile brands comes with popular brands Nokia, HTC and blackberry which have been also fallen from market range to down. LG's smart phone division comes with the highest accounting about 7 percent of revenue.
Let's see what one LG user can get from the supporters. Also one can find the best selling part of business to Vietnam's VIN group which can be soul through the terms sources with knowledge!!