The world of smartphone technology, whether it's Apple or Android, is a tough and competitive industry and any company that decides to dip its toes in is one that needs to know how to survive. Unfortunately, not all companies can thrive and despite LG being a notable developer of modern smartphones, 2021 may be the year they decide to hang up their USB-C charge cables.
After reporting losses of around $4.5 billion US over the past five years, the South Korean corporation are considering ceasing development of smartphones this year. The technology company's CEO, Kwon Bong-seok, has cited competition in the market growing more fierce as one of the main reasons for the change. This was after an internal memo was sent out to LG employees hinting at the possibility of either downsizing or a complete withdrawal from the mobile industry; an industry in which even Cyberpunk 2077 has its own smartphone.
While nothing has yet been decided, Kwon Bong-seok has confirmed to journalists that the internal memo was genuine, and a spokesperson for LG has said management within the company is considering options to make "whatever decision is necessary" but concluded that no final outcome had been reached. The memo itself comes after a now-deleted report which announced the company's decision to remove itself from the smartphone industry. However, LG have debunked the report insisting the information is false. At this stage, it's still uncertain which way the tech giants will swing and what will happen to the future of LG technology.
Despite going up against industry giants such as Apple, Samsung and Huawei, LG smartphones have enjoyed a number of years as a popular choice for Android users. However, despite their efforts to instigate a "wow factor" into their products such as the G5 from a few years ago which allowed users to insert additional components to its expansion slot like the LG Cam Plus, it's been unable to keep up with the competition.
Among all this, however, is the news that LG have also been teasing its rollable phone (aptly named the LG Rollable), which turns a smartphone into a small tablet by sliding the screen in and out of its surface area. While it's still a concept at this stage, it may be something the company is holding onto in a bid to keep themselves relevant within the smartphone world. There's no telling when or if the LG Rollable will be released, but if that isn't the case, at least they still have their partnership with the new Xbox. This is also not the only time the company has swum the rivers of gaming. Some may remember back in 2017 when they joined forces with Valve for SteamVR.
Source: The Verge