LG will stop manufacturing its smartphones in
South Korea
LG plans to suspend manufacturing of smartphones at its South Korean plant, according to a Reuters report. The report also states that LG will transfer manufacturing to its plant in Vietnam.
South Korea
The original information comes from an unknown source for the Yonhap News Agency and claims that this step is to help reduce the cost of manufacturing and transform the company's smart phone division, which has been bleeding money since the past quarters.
The information is not entirely unexpected. LG has received an increasingly chilly response to launch its smartphones. At the lower end of the market, the cheapest Chinese competitors have been eating LG lunch over the last few years, and at the other end of the market, LG has never been successful in bringing about magnificence. The latest version of the LG G8 for the company is one of the most advanced versions in the world despite its technical competence.
It seems unlikely that LG will leave the smart phone market completely anytime soon, but may opt out of some markets in the near future.
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