During 2017, LG did not launch a new smartphone in China. However, now, they officially announce that they will no longer operate in the country.
"LG mobile phone business has stopped operating in China," said a spokesman for LG in Beijing office. The latest smartphone LG has added to their official website in China is the LG G5 SE which was launched in May 2016.
LG did get a bit of profit in Q1 2017. Unfortunately, their mobile division continued to experience losses for 11 consecutive quarters. In addition, in China, LG also has to face tight competition from local players.
The Chinese market itself is starting to look saturated. Apparently this is the reason for LG's decision to get out of China's smartphone market. LG just stopped selling smartphones in China. In addition, their consumer electronics business continues to run as usual.
Meanwhile, in North America, which is the largest market for LG, the South Korean company must compete with Apple and Samsung. In Europe, LG's market share continues to grow while Huawei becomes the number one brand on the continent.
In Asian countries, Chinese brands usually dominate because they can offer more affordable prices.