Founded in 1947 by In-hwoi Koo, who was called Yonam, under the name „Lucky Chemical Industrial Co. a few years ago South Korean electronics maker LG was one of the largest mobile phone makers of the world. The phones they make were true competitors to Samsung, Sony, Apple and Huawei, but over the years consumers switched to other brands with higher fame.
LG tried to re-invent his phones, they build models like the G5 who had the capability to use extra cameras, batteries and other things. And they failed with all these attempts.
From 8 to zero
Now the story is over. Three years after the death of Koo Bon-moo, the grand son of founder Yonam, LG has said it is getting out of its loss-making mobile phone business to focus on other products and services. Last year the korean incorporation still ranks at 8 under the largest producers of mobile phones - behind Samsung, Apple, Xiaomi, Huawei, Oppo, Vivo and Motorola, but in front of Realme, Tecno and the famous classic Sony brand.
Battle can't be won
LG’s boards opinion now is that the battle for a relevant market share can't be won anymore. If you will try it you must invest more as your competitors into new science for innovative new phones, if you do this a few years without success, you lost money every day like LG do - and Sony too. LG now will be able to a shift in strategy and the company expects to fully exit the mobile phone business by the end of July, after 17 years. The mobile brand with the slogan "Life's Good" comes to an end - the once third-largest mobile phone maker gives up his fight against the chinese competitors.
It's the same end of the story like Nokia and Blackberry has written. And next in line could be Sony, another brand who lost market share since years.