LG smartphone company announces its withdrawal from the market

 

South Korea’s smartphone company LG took to Instagram to announce their withdrawal from the market. 

LG smartphone company has faced a loss of nearly $4.5 billion in almost six years. The company had failed to find a buyer hence they had to shut it down completely making it the first ever mobile company to do so.

South Korea’s LG has been distributing its smartphones all around the world being a competitor to all other brands. It used to be the world’s third largest mobile company after Apple and Samsung. But soon it came under critism on its lack of functional qualities as compared to other brands. LG failed to thrive as others.

Other companies like HTC, Blackberry and Nokia also suffered the fall but no one completely withdrew their product from the market.

LG announces this sad news on social Media platform Instagram and share their gratefulness for their loyal customers.

They will only be seen till the stock lasts in the markets.

 

 

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