Smartphone, display and chip manufacturers flourished in the past year, but their prospects may be dimming.
Samsung Electronics reported a 73.44 percent surge in net profit during the second quarter as a solid performance in the semiconductor business balanced relative weakness in smartphones.
Samsung Electronics is likely to unveil its new foldable smartphone in August, industry insiders said Tuesday.
LG Electronics is fast converting its overseas smartphone manufacturing lines into facilities that produce home appliances, following its decision to withdraw from the mobile business.
Samsung Electronics is mulling multiple new smartphone launches in August, industry sources said Sunday, as the tech giant tries to expand its leadership in the mobile market.
LG Electronics said Tuesday it plans to produce home appliances from its smartphone manufacturing line in northern Vietnam, as the company earlier decided to fully withdraw from the mobile business.
The vultures are circling as LG Electronics calls it quits in the smartphone market, its 10 percent domestic share available for the taking.
LG Electronics’ exit from the money-bleeding smartphone business will immediately stanch trillions of won in losses and allow reallocation of corporate funding to more profitable sectors.
LG Electronics announced it will officially shut down its smartphone business, after 25 years of operation. The company’s board of directors passed a vote Monday to halt its mobile communications division from July 31.
With LG Electronics still yet to announce what it plans to do with its money-losing smartphone business, rumors are circulating that it may choose to completely shut it down rather than sell it.