LG bets on 5G over foldables to grow smartphone sales
The company is putting its mobile division on the line after years of losses and stagnancy in market positioning and that 5G phone, a Sprint exclusive in the US to start, may help it move units.
The chaebol also considered launching a foldable phone at the same time as well. But according to The Korea Times, the company has decided against releasing it at this stage citing low demand.
“The market demand for smartphones is expected to be at around 1 million, but LG’s main issue in smartphone business is to regain its market position,” said Kwon Bong-seok, chief of LG’s mobile communications division.
“Considering this situation, it is too early for LG to launch a foldable smartphone. In terms of technology, we are fully ready to respond depending on consumers’ reactions (to foldable smartphones).”