LG might exit from the Chinese smartphone market soon

LG

A 2017 media report stated that LG has surfaced a massive loss in 2017 last quarter, which is close to $192 million

According to some media reports in China, the South Korean tech giant LG is now speculated to move out from the Chinese smartphone market, which is due to poor fiscal results earned in the last year.

A 2017 media report stated that LG has surfaced a massive loss in 2017 last quarter, which is close to $192 million. LG’s mobility division is doing good business in the last years and in the official press release, it mentioned that the decline in mobile business is due to strong competition from the rival Chinese smartphone firms.

According to a report of GizmoChina, LG is supposed to have sold just 160,000 units in China. That was a pretty less number for LG because the total smartphones sold were more than 480 million units. The speculation of exiting from the Chinese smartphone market has erupted because the most important LG flagship of 2017 was not even launched in China, the LG G6 unveiled in the first half of 2017, while the V30 launched in the second half.

GizmoChina further reports that the last smartphone, which has been made available on the Chinese website of the Korean giant, is LG G5 SE, was launched in May 2016. Although, it suffered a huge loss in the mobile division, its other electronics division including home appliances managed to reap a successful profit in 2017.

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