LG to exit smartphones as landscape shapes up for 5G

LG has announced it is to exit the mobile phone business. The South Korean firm declared that the move will allow it to focus resources on other drivers of growth. It will innovate in areas including electric vehicle components, connected devices and smart homes, and will continue to develop expertise in mobility-related technologies, so its role in mobile innovation is far from over.

The market landscape for smartphones continues to evolve, with a somewhat squeezed mid-tier where competitive strategies for some have shifted to focus more on price. Apple and Samsung at the high end continue to command loyal bases for their models and associated ecosystems of wearables/services. Huawei and Xiaomi have widened their reach outside their home market. Meanwhile, the likes of Oppo and Vivo are looking to grow scale and develop stronger brand reach to compete. We expect further jostling for position as vendors look to gain share against a backdrop of growing enthusiasm for 5G among consumers. The GSMA Intelligence Future of Devices report paints a more detailed picture.

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