As the title states, LG smartphones are leaving out of the smartphone industry. Which is very sad as they were ranked number 7 best smartphone brand worldwide in year 2020.
In this article, we will discuss the following:
- Why are they leaving the smartphone market?
- What will happen to the customers that are using LG smartphones currently?
- Will LG smartphones still be available to purchase?
- What is LG going to do now for the near future?
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Why is LG leaving out of the smartphone market?
LG might be ranked number 7 as one of best smartphone brands in year 2020, however they are not making enough profit to keep up against their competitions namely Apple and Samsung. Do not forget LG’s competitors from China like Huawei and Oppo that already surpassed their ranking. LG has been losing profits since the year 2015 due to the competition of new and current smartphone brand companies.
LG also felt the after effects of the pandemic that hit hard in the year 2020. All companies worldwide has lost lots money and was forced to either to close their doors or even retrench some of their workers in order to survive. LG saw their sales are very bad in the smartphone market and the smartphone markets’ competitors are becoming too much to keep up with. Thus, it resulted LG had to make a hard decision to leave the smartphone market and let them focus on other sectors of their company namely: EVs, IoT and B2B Solutions.
This is really sad as it was also known as the third best smartphone brand in Northern America. Now they will be gone from the end of July 2021.
What will happen to the customers that are using LG smartphones currently?
Now of course, LG smartphone users will immediately ask: “But what happens if my LG smartphone needs maintenance or repairs?” The answer is that LG will still provide after sales service for their smartphone customers, even if they are no more in the smartphone industry.
However, there will be limits for which smartphone models they will keep providing after sales services. The prediction is it will be the following LG smartphones that will receive after sales services when the smartphone giant is no more:
Just remember this is my prediction and there might be others I might not have mentioned of which LG will confirm as the time comes closer for their departure.
LG stated the following comment in terms of software updates regarding their smartphones: “Three OS update guarantee applies to LG premium phones released in 2019 and later (G series, V series, VELVET, Wing) while certain 2020 models such as LG Stylo and K series will receive two OS updates.” Meaning the series mentioned in this statement will receive software updates for the next three years. Which makes current LG smartphone users calm and relaxed that there will be some support still.
Will LG smartphones still be available to purchase?
The answer is a simple one. Yes you will be able to purchase a LG smartphone, however stock is limited till a certain time. As no more new units will be made after the end of July 2021 by LG. This will result after this period, LG will become less available to be purchased at major retailers until nonexistent.
I believe a big sale may occur to speed up the sale process for the last available units. Even some price discounts for all LG smartphones. So if you are an LG brand specific smartphone customer, it would be best to keep an eye out for any discounts for these LG smartphones that are still left.
After July 2021, LG smartphones will be scarce to find and places that might have some left may try to over charge them due to their scarcity. Thus, keep your eyes open and act when discounts occur.
Here is a video of the LG Velvet in person:
What is LG going to do for the near future?
LG is still going to be around in the business industry. However, they will not be making any smartphones anymore for customers. LG is going to focus other sectors in their company.
LG will also use their core technologies that they inputted into their smartphone industry, into other products they also provide, namely try improve their 6G and competitiveness in other business areas like EVs, IoT and B2B Solutions. Thus, keep an eye out for LG in their other sectors and see how grow away from the smartphone industry on a new journey.
LG is going to be missed in the smartphone industry. They started in the year 2013 and have grown a lot over the years. They did well, however the competition became too much for them to keep up. The pandemic was just the last nail for their coffin of which they were forced to decide how the company can survive.
The smartphones LG produced were really good in terms of features. They were so good that the brand itself was ranked number 7 worldwide in 2020. Their smartphone models ranged from K-series, G-series, LG Tribute, Flex, Nexus and many others.
If you want to purchase a LG smartphone and scared there will be not after sales or software support. Do not stress as LG is going to provide these services for certain smartphone models for the following 3 years. Just keep an eye out for more details for which models will receive these services.
My opinion if you want to purchase a LG smartphone, shop around by going on internet and see if there are any price reductions or discounts for these smartphones. As majority big stores would like to get rid of these smartphones as soon as possible to make space for other smartphone brands that are still competing in the smartphone market. So keep your eye out if you are looking for a specific LG brand smartphone.
So to close up with LG, remember its slogan: Life’s good!