LG Becomes First Major Smartphone Brand to Withdraw From Market Due to Losses

South Korea's LG Electronics said on Monday it will wind down its loss-making mobile division - a move that is set to make it the first major smartphone brand to completely withdraw from the market.

Its decision to pull out will leave its 10 percent share in North America, where it is the No. 3 brand, to be gobbled up by smartphone titans Apple and Samsung Electronics.

The division has logged nearly six years of losses totalling some $4.5 billion (roughly Rs. 33,010 crore), and dropping out of the fiercely competitive sector would allow LG to focus on growth areas such as electric vehicle components, connected devices and smart homes, it said in a statement.

In better times, LG was early to market with a number of cell phone innovations including ultra-wide angle cameras and was once in 2013 the world's third-largest smartphone manufacturer behind Samsung and Apple.

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The Best Top Ten Smart Phone to Buy Right Now

In this year 2021, buying the best smart phone means looking for something special that should last you a few past years. Smart phone's upgrade cycles are slowing down for a some reasons below. 

For example cost of mobile and purchasing power, it’s getting harder and harder to buy an expensive device. In other words, you don’t have to spend a huge amount to get something big or great, as a bunch of great smart phones are available for round about $800. 

It is harder than ever to decide between everything in that range, but for most people, decide to pick for the best phone as the Apple iPhone 11 Pro, 256GB, Space Gray, Fully Unlocked (Renewed).

Luckily, if you are looking for a no-compromise smart phone at any price, the choices over a thousand dollars and More higher are much clearer. If you like Android phone, the Samsung Galaxy S21 Ultra 5G | Factory Unlocked Android Cell Phone Ultra is incredibly good.

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