LG to exit smartphone business
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South Korea’s LG Electronics is to close its loss-making smartphone division after losses of nearly $4.5 billion over the past five years
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Smartphone shipments (millions)

Apple LG Oppo Samsung Xiaomi Huawei Vivo

2012 
205.8
130.1
27.2
25.8

2013
299.8
150.8
46.6
46.4

 2013: LG launches G series to take on Samsung Galaxy S

2014
317.2
192.7
74.1
61.1
59.1

2015
319.7
231.5
107.5
71.0
39.7
39.0
59.7

2016
309.4
215.4
138.8
61.8
84.6
71.9
55.0

2016: LG’s market share falls from 4.6% to 3.2% after launch of G5 modular smartphone.
Concept of extra functions via add-on components fails to excite users

2017
318.1
215.8
153.1
96.0
119.8
100.2
55.9
2017: Market share falls to 3.0%

2018
291.8
206.3
205.3
121.0
120.2
102.2
102.8
41.2

2019
296.9
195.6
238.7
124.7
120.0
113.7
28.4

2019: Market share continues to fall, to 1.9%

2020
255.7
201.1
187.7
145.8
11.8
108.5
24.7


LG Velvet: Launched in 2020

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Sources: Counterpoint, Financial Times, Reuters Picture: LG Electronics © GRAPHIC NEWS