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LG To Withdraw From Smartphone Market Due To Ongoing Losses

After nearly 6 years of losses, South Korea’s LG Electronics has decided to completely withdraw from the smartphone market and focus on other areas instead.

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lg to withdraw from smartphone market due to ongoing losses

After nearly six years of losses, South Korea’s LG Electronics has decided to withdraw from the smartphone market and focus on other areas instead, including home electronics, connected devices, and smart vehicle components.

The total losses of the LG’s mobile division amount to $4.5 billion even though the brand currently enjoys the third place in the United States, after Apple and Samsung Electronics.

“In the United States, LG has targeted mid-priced — if not ultra-low — models and that means Samsung, which has more mid-priced product lines than Apple, will be better able to attract LG users,” commented Ko Eui-young, an analyst at Hi Investment & Securities.

For a long time, LG was considered to be one of the most innovative smartphone manufacturers, pioneering ultra-wide-angle cameras, dual-display devices, vein-tracking aerial gestures, and swappable components. Unfortunately, most of its innovations failed to gain any significant traction among consumers.

To make things even worse, some of the more recent flagship models have suffered both software and hardware problems, and professional reviewers were quick to point them out, steering potential buyers toward other brands.

lg smartphone market share

LG Smartphone Market Share

Currently, LG’s global share is only around 2 percent, with 23 million smartphones shipped last year. When compared with Samsung’s 256 million shipped units, the company’s decision to withdraw from the smartphone market suddenly becomes easier to understand.

Also Read: Huawei Wants To Make Long-Range Wireless Charging A Reality

It’s also worth pointing out that successful Chinese brands, such as Xiaomi, Vivo, and OPPO, have greatly increased buyers’ expectations by offering flagship specifications at mid-range prices.

The good news is that current employees of LG’s mobile division won’t lose their jobs — at least not those who are based in South Korea. Instead, they will be moved to other electronics divisions. Owners of LG smartphones also have nothing to worry about because both service support and software updates will continue to be provided even in the near future.

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Truecaller To Use Microsoft Azure AI Speech For Call Answering

The new service features a powerful speech generation tool to allow users to create AI versions of their voices.

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truecaller to use microsoft azure ai speech for call answering
Truecaller

Truecaller, a well-known app for identifying and blocking spam calls, is enhancing its services by allowing users to create AI versions of their voices. The new feature, available to those with access to Truecaller’s AI Assistant, stems from a partnership with Microsoft and its Azure AI Speech tool, allowing the generation of realistic AI voices that accurately mimic users’ speech patterns and tone.

“This groundbreaking capability not only adds a touch of familiarity and comfort for the users but also showcases the power of AI in transforming the way we interact with our digital assistants,” explained Truecaller product director and general manager Raphael Mimoun in a recent blog post.

The AI Assistant in Truecaller screens incoming calls, informing recipients of a caller’s purpose. Based on this information, users can decide whether to answer the call themselves or let the AI Assistant handle it.

When the feature was introduced in 2022, users could only choose from a collection of preset voices. The ability to record one’s own voice represents a significant step towards the complete personalization of the service.

Also Read: Getting Started With Google Gemini: A Beginner’s Guide

Azure AI Speech, showcased during the last Build conference, only recently added a personal voice feature that lets people record and replicate voices. Microsoft explained in a blog post, however, that Personal Voice is available on a limited basis and only for specific use cases like voice assistants.

To maintain ethical standards, Microsoft’s Azure AI Speech automatically adds watermarks to AI-generated voices. Additionally, a code of conduct requires companies to obtain full consent from individuals being recorded and prohibits impersonation.

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