SEOUL – China’s largest smartphone maker is forcing a once-strong competitor to rethink the future of mobile devices.
LG Electronics Co. said. South Korea, which remains one of the largest phone retailers in the US, on Wednesday said the company is “leaving all opportunities open” for its mobile segment led by slow sales .
In a memorandum to staff, LG CEO Kwon Bong-seok said the sector “has been in the red for 23 consecutive quarters… The time has come to make the best choice by judging our competitiveness now and in the future. ”
He did not explain any options being considered, or specify a timeline for a decision, but analysts say options for LG – once one of the leading smartphone brands in the world. -world – to include selling the unit or downsizing its business to key markets such as North America, Latin America and its home market in South Korea. A LG spokesman confirmed the memo but declined to comment further.
The company has long been questioned about its long-term commitment to smartphones, although it has dispelled those doubts before.