Today it was reported that LG was considering exiting the smartphone industry due to declining shipments over the years and a long string of losses. Another report from South Korea suggests this The company has also pulled the plug in the manufacture of smartphone LCD panelsMuch of it was once destined for iPhones before Apple finally went all-in on OLED panels. Interesting, LG reportedly stopped producing LCD panels on one of its key assembly lines as early as the third quarter of 2021.
Instead of phones, LG Display will focus on making larger panels for automobiles
“LG Display has stopped manufacturing liquid crystal display (LCD) panels for iPhones, TheElec has learned. The factory that previously made the panels will be converted to manufacture panels for automobiles. LG Display discontinued iPhone LCD production in its AP3 line at Gumi in the third quarter. The line also stopped producing panels for other phones in the fourth quarter, ”said a report by TheElec.
The main reason LG has discontinued its LCD panel production is because of its poor profitability. And with a cash-rich customer like Apple switching to OLED panels, the company apparently had dire financial prospects for future LCD production. If LG Display leaves the field, JDI and Sharp will reportedly fill the void in Apple’s supply chain. LG will now focus on making larger panels for automobiles instead of smartphones.
LG is reviewing all options for its phone business – from downsizing to selling
The Korea Herald reported earlier today that LG CEO Kwon Bong had sent an internal memo highlighting a “major change” in how the company’s smartphone business works. On the flip side, a spokesman noted that the company is reviewing all of the options on the table, ranging from downsizing its phone business to selling it. Lately the outsourcing route has gone for the manufacturing of its low-end smartphones, while the in-house team is currently focusing on high-end phones as well as part of the Explorer project initiative that led to the LG Wing and is coming soon innovative devices also focused with a rollable phone.
I’ve been writing about consumer technology for over three years, having worked with names like NDTV and Beebom in the past. Aside from the latest news, I’ve checked out my fair share of devices that range from smartphones and laptops to smart home devices. I’ve also interviewed tech managers and appeared as a moderator on YouTube videos talking about the latest and greatest gadgets.