After over a decade of attempts but never a #1 seller, Korean-based LG has announced it is leaving the global smartphone market.
LG issued a press release yesterday announcing the news but rumours of the decision have already been in the market for weeks so this comes as no surprise to anyone. The company has never been a strong competitor in the smartphone market, Statista has them with 5% of total worldwide smartphone shipments only one quarter (the third quarter of 2015) from the beginning of 2015 to the end of 2020. In the fourth quarter of last year, the LG‘s share dropped to 2%. At that point, Apple had 21% and Samsung was nipping at its heels with 16%.
The official shutdown for LG’s smartphone division is set for completed by July 31.