LG on Sunday became the latest big-known player to exit the incredibly competitive mobile phone sector. LG over the years has struggled to replicate the services provided by the dominant forces like Apple, Samsung, and other Chinese manufacturers. The South Korean company asserted that it would put a closure to its mobile phone business. LG CEO claimed that the company would gauge interest in smart home products, a slightly different dilemma to handle than the mobile phones.
Consumer ideologies have transformed since the lockdown as they are sustaining their models for longer periods. It restrains the reach of the less expensive models of other companies, and they are coerced to give up on a significant market share. Other legacy phone brands like Blackberry and Nokia have mounted their struggles, and neither of them exists in their original form.
Contrastingly, the customers and the reviewers have found LG devices confining and sleek to use. But it lacks the marketing might of Samsung or the cult following of Apple, thus has strayed backward with time. In 2007, when the first iPhone was unleashed by Apple, LG was the leading pack in smartphones followed by Nokia and Motorola. This showcases the perfect example of not adapting with time and being the reason for the downfall yourself.