Domestic brands too strong! LG confirmed that the mobile phone business to exit the Chinese market

According to data from 2017 market research on mobile phones released by several market research companies, the current handset industry has shown a pattern of "strong stronger and weaker are weak." Apple, Samsung, Huawei, Xiaomi and OV have basically divided up handset makers The entire mobile phone market.

The latest news shows that another veteran mobile phone maker will have to "fade out" the highly competitive mobile phone market.


LG V30 phone

In February February, a representative of LG Beijing office told China Business: "The company's mobile phone business has withdrawn from China." It is learned that the biggest reason why LG's mobile phone business has chosen to withdraw from the Chinese market is the rise of domestic mobile phone manufacturers Cause its long-term loss.

According to LG Electronics announced fourth quarter and full fiscal year 2017 fiscal year, its revenue and profits have a greater growth, but LG mobile sector more serious losses.Export shows that the fourth quarter of 2017, LG mobile sector loss of 1.9 The number of LG mobile phone sales in 2017 was 13.9 million, a decrease of 1% from 2016.

In response, LG said Huawei, OPPO, vivo and other Chinese handset manufacturers rise, as well as rising costs of components are the reasons for the loss.


LG G6 phone

In fact, as early as this year's CES show, there are Korean media reported that South Korea LG mobile sector will cancel the high-end mobile phone business in the future only low-end is the mobile phone, and will enable the new mobile phone series.However, An LG executive said: 'We are still doing our best, hoping to survive.'

If the LG mobile phone business really out of the Chinese mobile phone market, then the cancellation of high-end mobile phone is only a matter of time.

2016 GoodChinaBrand | ICP: 12011751 | China Exports