Why is LG shutting down its mobile phone business worldwide?

        LG a South Korean multinational electronics company, on Monday, called the mobile phone sector "incredibly competitive" and said it would wind down its mobile phone business by July 31. The decision came after LG's mobile phone division's six years of losses totalled around $4.5 billion. LG will now focus on electric vehicle components, smart home devices, robotics, artificial intelligence, B2B solutions, and 6G.

Why people don't prefer LG phones? Why is LG shutting down its mobile phone business worldwide?

LG smartphones are not very popular around the market. Considering their design, OS, features, etc. LG feels like a random choice. If you take Samsung or Apple for comparison you get more features, better display, better connectivity and you'll have a feeling of holding a quality phone. 

Yes, LG also provides more features, they launch a phone with a great feature but they do not show that particular feature in their upcoming phones. 

LG's air motion feature!

LG's swiveling phone!

As I have observed LG is an innovative company who were the first one on the planet to add laser-autofocus, wide-angle camera, QHD display, and many more, but they were not up to the mark. This was the downside of LG. Because of this other smartphone manufacturers took their ideas and made them better. 

Another huge reason is the pricing. LG doesn't keep a constant value for their phone i.e. at launch LG's V60 smartphone was around Rs.75,000 (Feb 2020) but in just 2-3 weeks after the launch, we could get it only for Rs.35,000! 

If a person wants to buy an LG phone, why he has to buy it at full price when he gets the same version at a cheaper rate if he waits for a period of 2 weeks. So the solution for this is to stick to a good starting price and maintain that price point. The advantage of doing this is that they can perform flash sales in the same way that Xiaomi does. If LG makes its phones cheaper they can still run a good market.

Another problem is with the naming of their smartphones. LG primarily had the 'g-series' and the 'v-series'. Where the g-series smartphone were named as g2, g3, g4...  The v-series were named in tens i.e. v20, v30, v40... and the budget smartphone were named in both tens and ones like K51, K61s... because of this the consumers do not get a clear picture of LG's smartphone line-up and it is hard to choose a smartphone among them.

So, these could be some of the reasons why LG is shutting down its mobile phone business. I believe that if LG makes a phone better than its competitors with a great price and if they build the craze among the consumers then they sure will get a good position.