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LG will no longer produce mid-range smartphones. She will order them from third-party manufacturers
LG Electronics continues to try to get its mobile phone business back on track for 22 quarters in a row. LG announced Monday that it will reorganize its mobile phone business to expand its outsourcing of mid-range and entry-level models. The move, analysts say, will help the company cut costs and compete with Chinese manufacturers.
REUTERS / Sergio Perez
According to a spokeswoman for the South Korean company, LG’s mobile division will outsource the development and production of mid-range and entry-level smartphones to third-party ODM companies. At the same time, the manufactured products will be marked with the LG label.
In addition, the company abolished some R&D and manufacturing positions and regrouped others to focus its own R&D on the premium smartphone segment.
Although the South Korean company ranked 3rd in the global smartphone market in the first quarter of 2021, according to Strategy Analytics, it did not even make it into the top seven in the third quarter of this year after losing ground to Chinese smartphone makers such as Huawei. Xiaomi, Oppo and Vivo, according to research firm Counterpoint.
“Realizing that it is competing with Chinese competitors, not Apple or Samsung, the company is trying to add value to its lower-end models by using the same original design makers as Chinese firms,” said Counterpoint analyst Tom Kang. Even so, he added that LG will have to spend a lot on marketing to compete with competitors who are good at promoting their products on the market.
Last October, LG announced that it would shift to ODM production and mid-range smartphones, not limited to low-cost models.