Last updated on December 8th, 2022 at 03:14 pm
Analysts estimate who will benefit most from LG’s exit from the smartphone market
As we reported earlier, LG announced yesterday that it will stop manufacturing smartphones by the end of July. This decision was made after years of growing losses accompanying the work of the respective division. Instead, the South Korean company will focus on sectors such as artificial intelligence, robotics, and 6G telecommunications technology, as well as home appliances and televisions.
According to analysts, with the departure of LG, Apple’s share of the smartphone market in the United States will decline
With LG leaving, other smartphone players have a chance to increase their market share. According to analysts, another South Korean giant, Samsung Electronics, may benefit the most from LG’s departure. This forecast was expressed by specialists from SK Securities and Counterpoint Research.
The key market in this regard is the US market, where LG is one of the three largest suppliers with a 10% share. In the fight for this tidbit, Samsung has an edge over Apple – using the same operating system – Android.
With LG leaving, other smartphone players have a chance to increase their market share. According to analysts, another South Korean giant, Samsung Electronics, may benefit the most from LG’s departure. This forecast was expressed by specialists from SK Securities and Counterpoint Research.
The key market in this regard is the US market, where LG is one of the three largest suppliers with a 10% share. In the fight for this tidbit, Samsung has an edge over Apple – using the same operating system – Android.
