It only sold 160,000 phones in the region in 2016
While LG as a whole is doing pretty well, their mobile arm has been continuously losing money the past few quarters. LG’s mobile division hasn’t had a good quarter in a while, and reports say it’s officially exiting the biggest and toughest mobile market in the world because of intense competition.
According to China Business, LG is reportedly exiting China, the biggest mobile market in the world amid heavy losses and tough competition from domestic brands. LG hasn’t launched a new phone in China since the LG G5 SE back in the middle of 2016, and there are some reports that peg LG’s overall sales in the supposedly huge market that year at just 160,000 units.
Intense competition from other brands in China may have prompted the decision, and LG’s refocus in their mobile division after their dismal performance in 2017 may have sealed the deal. Hopefully LG’s efforts to re-focus their smartphone business will yield positive results in the next few months.
