Why is LG shutting down? (2023)

Why LG is shutting down?

South Korean electronics giant LG is exiting the smartphone business after years of losses to focus on other growing businesses the company announced on Monday, a decision that will leave a sizeable gap in the American smartphone market where LG is the third biggest brand after Apple and Samsung.

(Video) LG Electronics to shut down its mobile business after 26 years of operation
(Arirang News)
Will LG phones still work in 2023?

A. Yes, your current LG phone will continue to work with your service provider.

(Video) Why Did LG Phones Really Die?
(Marques Brownlee)
Are LG phones being shut off?

LG, earlier this month, announced that it was shutting down its mobile phone business. While making the announcement the company had also said that it will provide three years of software updates to its smartphone users.

(Marcofrancis713 mixvlog)
Is LG completely out of business?

LG isn't going out of business.

By exiting the smartphone business, LG is focusing on its other profitable businesses. LG reported revenues of 74,722 billion South Korean won in 2021, which was 28.7 percent higher than the previous year. The company is sustainably profitable and has a reasonably strong balance sheet.

(Video) LG Dryer shuts off early. Moisture sensor fix.
(Signals and Bits)
Why did LG fail?

The average consumer wants a smartphone that makes their life easier and functions well. Apple and Samsung realized this, which is why they took the company's best innovations and worked on improving those. Speaking of those two, another reason behind LG's failure is that it simply wasn't memorable enough to users.

(Video) All LG Phone Invalid Battery Problems solution |Fix| Smart Phone repair Sinhala | මුල ඉඳන් ඉගෙන ගන්න
(Ape Kade - අපේ කඩේ)
What will happen to LG phone users?

LG devices won't immediately disappear from store shelves; instead, the company plans to let current supplies dwindle without replacing any inventory. Existing LG phones will continue to receive support, with the exact length of that support to vary based on region.

(Video) LG TV turning On and Off - Fix it Now
(Studio 6060)
What is a good replacement for LG phones?

  • Apple. iPhone 14 Plus.
  • LG. Stylo 5.
  • Samsung. Galaxy A23 5G.
  • LG. Q Stylo 4.
  • Motorola. Moto G Stylus 5G (2022)
  • LG. G8 ThinQ.
  • Xiaomi. Redmi K60 Pro.
  • LG. K71.

(Video) LG V20 Invalid Battery Shutting Down - How To Fix Common LG Phones Problem
(Hassam Uddin)
How much longer will LG phones be supported?

Premium LG phones released in 2019 or later – including G series, V series, Velvet and Wing models – are in line for three years of security updates. Meanwhile, cheaper LG handsets dating from 2020 onwards – like the K series and Stylo models – will get two more years of updates.

(Video) LG Shutting Down Smartphone Business After Years Of Losses | Forbes
(Forbes Breaking News)
How long will LG support cell phones?

The company said in 2021, “All premium LG smartphones currently in use will receive up to three iterations of Android operating system updates from the year of purchase." That use of the phrase “up to” suggests to use there's no guarantee Android 13 will land on these phones, and only time will tell how long LG ...

(Video) Why is LG shutting down its mobile phone business worldwide?
What phones are shutting down in 2022?

AT&T announced that it phased out its 3G network beginning in February 2022. Verizon announced that it will finish shutting down its 3G network by December 31, 2022. T-Mobile announced that it finished shutting down Sprint's 3G CDMA network as of March 31, 2022 and Sprint's 4G LTE network as of June 30, 2022.

(Video) How do you fix an LG TV keeps turning off by itself | lg tv keeps turning off

Can you still buy LG phones?

The company officially stopped making phones in April, 2021. Despite that though, there are still many good phones the company released in 2020 and in 2021, that will continue to be supported for their remaining lifetime. This way, if you want to get an LG phone, you can still do that.

(Video) LG V10H TracFone Shutting Down
Who bought LG?

LG Corporation
RevenueKRW 156 trillion (2018)
OwnersKoo family (45.9%) National Pension Service (8.03%) Mirae Asset Financial Group (5.5%)
Number of employees222,000 (2012)
SubsidiariesLG Electronics LG Display LG Uplus LG Chem LG Energy Solution LG Household & Health Care
Korean name
24 more rows

Why is LG shutting down? (2023)
Is LG losing money?

It missed an average forecast of a 474 billion won loss from 12 analysts polled by Refinitiv SmartEstimate. Revenue fell 6% to 6.8 trillion won, LG Display said in a regulatory filing. It plans to cut its 2022 investment budget by more than 1 trillion won and flexibly operate its OLED production lines to match demand.

What is a weakness of LG?


LG possesses this weakness as its competitors are working on increasing their market share in the industry. LG works on technology well but not on the outer factors that lead to a developed brand.

Why no one buys LG phones?

Its flagship models suffered from both software and hardware mishaps which combined with slower software updates saw the brand steadily slip in favour. Analysts have also criticised the company for lack of expertise in marketing compared to Chinese rivals.

Will LG return to the phone market?

On April 5th, 2021, LG announced that it was quitting the "incredibly competitive mobile phone sector", which essentially means no new LG-branded phones will be coming out anymore, although the company is still developing components such as displays for other phone makers.

Is LG product better than Samsung?

LG's brand is ranked #398 in the list of Global Top 1000 Brands, as rated by customers of LG. Their current market cap is $7.17B. Samsung's brand is ranked #103 in the list of Global Top 1000 Brands, as rated by customers of Samsung.

Which is the best Android phone?

If you want the most reliable, capable, and widely available Android phone, the Galaxy S22 Ultra is still it even as the calendar turns to 2023 soon.

What is the last LG phone made?

The LG Velvet was the last LG smartphone available via a national carrier in the US.

Which phones will no longer work?

Some tracfones, flip phones, Jitterbugs and even older-style smartphones will no longer be able to make calls once the networks are taken down. Most of these phones, which are sometimes called “third generation” phones were launched nearly 20 years ago and will no longer work with most of the carriers in 2022.

What happens when a phone is no longer supported?

You might not notice immediately if your phone is out of date. The most obvious sign you're on old software might be when you look for new apps to download. Many apps will simply be incompatible due to the software and hardware limitations on your phone and you won't be able to install them.

What phones are getting outdated?

A lot of older cellphones, including the iPhone 5, iPhone 5S and Samsung Galaxy S4, will become obsolete in 2022 as mobile providers make the switch to 5G networks.

Does LG own Coca Cola?

LG Household & Health Care is a major South Korean consumer goods company that manages cosmetics, household goods, and beverages business. It is also the South Korean bottler of the Coca-Cola system.
LG Household & Health Care.
Native name주식회사 LG생활건강
19 more rows

Did LG stop making TVS?

South Korean manufacturer LG has just made the decision of stopping the production of television panels and smartphones on its home soil and will move capacity abroad to stem losses.

What did LG used to be called?

Founded in 1958, Goldstar Co., Ltd—the predecessor to LG Electronics—was a pioneer in technology throughout the '60s.

Is LG as good as Samsung?

Generally, both brands offer competitive features, with LG pricing their products at a slightly lower cost. That said, Samsung may have LG beat when it comes to kitchen appliances, and conversely, LG may have an edge over Samsung in the laundry room.

Is LG a trusted brand?

LG Electronics, a brand known for delivering cutting-edge technology products to its teeming consumers worldwide, was once again recognized as one of the very few brands known for quality, reliability, and customer satisfaction.

Does LG have a good reputation?

LG has a consumer rating of 1.39 stars from 244 reviews indicating that most customers are generally dissatisfied with their purchases. Consumers complaining about LG most frequently mention customer service, year warranty and class action problems. LG ranks 562nd among Electronics sites.

How do I stop my LG TV from turning off?

Settings - Energy Saving

Using your "magic remote control", press the "settings" button and navigate to "all settings". Under all settings select "support". Select the "auto power off" option and you can adjust and extend the period of time of the auto power off setting.

Is LG coming back?

LG has shut down its smartphone division at the end of July 2021. That means we won't see any more new LG phones. However, there are still some solid recent handsets that are still available for sale, either unlocked or via carriers.

Why is my TV suddenly shutting off?

If you find your TV is turning on or off around the same time like clockwork, it's possible this was set up accidentally by a child or cat sitting on the remote. Poke around your TV's settings to see if you can find the power-scheduling feature and ensure it's disabled.

Why is my TV keep turning itself off?

A loose connection can cause your TV to turn off unexpectedly, and so can an aging power supply cord. If you notice frayed wires or damage to your TV's power cord, it's time to shop for a new TV to prevent further issues and potential electrical hazards.

How do I stop my TV from turning off by itself?

Turn off eco mode

Some TVs come with this option, which is intended to reduce energy use. Instead of your television turning off, it goes into a power-saving sleep mode. Yet devices connected to your TV through CEC or Wi-Fi could cause it to turn on by itself. To prevent this, disable eco mode in your settings.

What phones will not work in 2022?

A lot of older cellphones, including the IPhone 5, IPhone 5S and Samsung Galaxy S4, as well as many of the flip phones, will become obsolete in 2022 as mobile providers make the switch to 5G networks.

Will LG return to smartphones?

On April 5th, 2021, LG announced that it was quitting the "incredibly competitive mobile phone sector", which essentially means no new LG-branded phones will be coming out anymore, although the company is still developing components such as displays for other phone makers.

Does LG still make phones 2022?

LG closed its mobile division, and on its way out promised current devices will keep receiving firmware updates until the summer of 2025. The Korean company now revealed the next three devices that will receive Android 12.

You might also like
Popular posts
Latest Posts
Article information

Author: Francesca Jacobs Ret

Last Updated: 15/12/2023

Views: 5680

Rating: 4.8 / 5 (68 voted)

Reviews: 91% of readers found this page helpful

Author information

Name: Francesca Jacobs Ret

Birthday: 1996-12-09

Address: Apt. 141 1406 Mitch Summit, New Teganshire, UT 82655-0699

Phone: +2296092334654

Job: Technology Architect

Hobby: Snowboarding, Scouting, Foreign language learning, Dowsing, Baton twirling, Sculpting, Cabaret

Introduction: My name is Francesca Jacobs Ret, I am a innocent, super, beautiful, charming, lucky, gentle, clever person who loves writing and wants to share my knowledge and understanding with you.