Recently, our insiders have reported that LG is all set to leave the Chinese mobile market. The update comes subsequent the declaration of LG’s 2017 financial scores as of previous week. Further, such reports have also deliberated on the local publications of the country.
We know all about the record-breaking revenue of LG Electronics in one piece. Though, such specs do sound good, but certain sales were a huge loss for the company. However, the mobile category in specific forwarded a $192M operational loss for Q4 series. This was because of the strong rivalry from Chinese trademarks, which was explicitly cited in the media statement.
Nevertheless, LG was projected to have traded just 160,000 units in China for the year 2016. Similarly, the estimated 480 million total shipments were also a big loss. Therefore, the G6 and V30 smartphones haven’t been formally opened in China too.
Actually, it’s a bit strange to be welcomed by the G5 in the mobile segment of the LG China website as of now. Most probably, this too will vanish soon after LG makes up its mind for a no sale region against China.
It appears that the Chinese brands have demonstrated too hard-hitting of a competition in their home-based market for LG. What do you think, is LG doing a better deal by closing down China market?