Connect with us

News

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.

Published

on

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Matchmaking App Hawaya Lets Users Connect Based On Lifestyle Choices

Hawaya currently operates in 12 new countries, including Kuwait, Saudi Arabia, UAE, France, Germany, UK, Malaysia, Indonesia, the United States, and Canada.

Published

on

By

egyptian matchmaking app hawaya lets users connect based on lifestyle choices

Finding love is not easy, especially for singles in the Middle East, where conservative cultural norms don’t approve of any but the most traditional forms of matchmaking, which don’t seem all that appealing to many members of younger generations. But it’s not like young men and women in the Middle East are without modern options when it comes to finding the partner of their dreams. Hawaya, a Cairo-born matchmaking app, has recently celebrated 4 million users, and it’s now rolling out a feature that has the potential to expand its userbase even further: the ability to connect based on lifestyle choices with people from other regions.

Hawaya currently operates in 12 new countries, including Kuwait, Saudi Arabia, UAE, France, Germany, UK, Malaysia, Indonesia, the United States of America, and Canada. So far, it has resulted in 18,000 commitments, with 5,000 in Egypt alone.

“We’re seeing singles all over the region, women in particular, trusting in Hawaya to find their life partner more than ever before, which displays greater social acceptance for mobile matchmaking as an empowering tool for women to find their ideal life partner,” said Shaymaa Ali, Hawaya’s co-founder and Marketing Manager in the MENA region.

The new “Lifestyle Preferences” feature allows users to find their other half based on shared interests, likes, and dislikes. Users can now specify the geographic area they would like to explore, instead of always receiving matches that are located as close to them as possible.

Also Read: Tinder Will Soon Let You Background Check Your Matches

“Through innovation, tech, and cultural respect, Hawaya prides itself to be a progressive app that aims to destigmatize the taboo of online matchmaking, and empowering women to take their time and spark a real connection with the love of their lives,” added Sameh Saleh, Hawaya’s founder and CEO.

Since the 2017 launch of Hawaya, social acceptance of online matchmaking in the MENA region has seen a measurable improvement, but there’s still a long way to go before all users of matchmaking apps like Hawaya won’t feel the need to hide their identities.

Continue Reading

#Trending