LG Mobile is allegedly set on pulling out of the Chinese smartphone market, reports in local publications state.
The news comes following the release of LG’s 2017 financial results last week. Record-breaking revenue of LG Electronics as a whole may sound good, but the mobile division in particular posted a $192M operating loss for Q4, with ‘strong competition from Chinese brands’ specifically quoted in the press release.
Chinese brands have proven too tough of a competition in their home market, apparently – LG was estimated to have sold just 160,000 units in the country in the…