Rewind the clock a few years back and brands like Apple, Samsung, and LG were flourishing in foreign markets such as China. However with the rise of Chinese OEMs who were putting out cheap and powerful handsets, those companies started to lose their foothold in the country, and now it seems that LG might just give up entirely.
According to a report from DigiTimes, they cite Korean-based Daum News as saying that LG could be considering pulling out of the Chinese smartphone market. Apparently LG’s smartphones accounted for barely a fraction of the market at less than 0.1% in 2016, which is why to stem their losses, not only is LG considering not launching the LG G6 in China, but they might be withdrawing as well.
We suppose this makes sense and LG would not be the only company to do so. Last year Sony Mobile announced that they would also be focusing less on certain markets, such as China. Like we said, the rise of Chinese OEMs have certainly made it a lot more competitive, with companies like Xiaomi creating devices so cheap and affordable that they sell out within seconds to minutes.