IS LG OBSOLETE – YOU NEED TO KNOW IN 2023
The American Customer Satisfaction Index (ASCI) has placed LG #1 in customer satisfaction for the past two years in a row. LG is an industry leader in exceeding expectations for appliance performance. And it’s easy to understand why! LG appliances with ThinQ technology make managing daily tasks simple, even when you’re not at home, whether it’s making supper or running your clothes through an anti-wrinkle dryer cycle. Regarding the subsidiary brands, LG Studio appliances help you express your style in your home thanks to their slick aesthetics and simple controls. LG Signature appliances, on the other hand, provide you the chance to experience the art of high-end appliances created for the most discriminating people if you’re a connoisseur of extravagance.
But it is rumored that Is LG obsolete? Is this right? Let’s see!
Without a doubt! One of the top brands is still LG. The fact that LG Electronics has won accolades and been extensively praised by numerous groups and organizations has been shared with its customers, which has had a significant impact on how consumers perceive the value of the brand.
The brand LG has established itself as being shrewd and consumer-friendly. Apart from that, the emphasis is on dependability, where LG consistently aims to give its clients high-quality, safe products. The brand places a strong emphasis on quality. Its branding strategy, “Life’s Good,” has assisted them in providing distinctive value to clients all around the world. It strives to improve and ensure the safety of people’s lives. LG has placed a strong emphasis on expanding its footprint and market penetration in Asian countries in recent years. It has introduced a variety of items to the market that are not only more intelligent but also notably intuitive. By doing this, LG has been able to transform its brand into a lifestyle brand that adds more comfort and enjoyment to people’s lives. All of them, from curved televisions to new washing machine models, have been developed with an emphasis on people’s lifestyle requirements.
The brand has been successful in developing a distinctive image by placing a strong emphasis on quality, design, consumer value, and several other factors. The brand has recently experienced more rapid expansion based on innovation. Online videos are used to promote the majority of its new products. More than 500 movies from the company’s YouTube channel demonstrate how LG goods improve consumers’ lifestyles.
However, an official press statement states that LG has officially stopped producing phones, hence no new LG smartphones were released in 2021. Nobody in the mobile industry will be shocked by this statement because the change has been rumored.
This has two implications. First off, since the company is liquidating its whole mobile business section, we won’t be seeing phones like the speculated LG V70 ThinQ, LG G10, or LG Velvet 2. The decision to leave the fiercely competitive mobile phone market, according to LG, was made strategically. Second, LG claims that this will free up resources for it to concentrate on areas of growth, naming a long list of industries where its brand is more well-positioned, including “electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.”
As most people are switching to 5G phones, LG says in the statement that it would “use its mobile expertise and develop mobility-related technologies such as 6G.”
What will happen to current LG phones?
The good news is that you will be covered whether you already own an LG phone or decide to acquire one. Existing LG phone customers will continue to get service support and software upgrades, and the current LG phone inventory will continue to be available for purchase in stores and online. According to LG, it intends to uphold the usually limited warranties that came with its phones and tablets in the United States. This means that it will offer service parts until the end of that warranty or longer if your state requires it. For some models, LG claims to offer additional post-sale assistance. Additionally, for customers who have registered their qualifying device, LG is fulfilling any extended warranties. In the future, there won’t be any new LG smartphones.
Although you’ll presumably still be able to purchase an LG phone after that date, LG says the wind-down of its mobile phone industry will be finished by July 31, 2021.
Look back at 5 utterly bizarre LG phone ideas to learn why they didn’t work. It was a firm that frequently pushed the limits of smartphones, introducing novel video camera controls that others soon replicated, better selfie cameras, and ultra-wide cameras before most others. However, it wasn’t always successful in reaching consumers; attempts at novelties like dual screens, flexible displays, leatherbacks, modular phones, and gimmicky motion sensors were met with muted enthusiasm.
It is simple to understand why LG is leaving the smartphone market. Due to its inability to escape the shadow cast by market leaders Apple and Samsung or to fend off growing competition from Chinese phone manufacturers like Huawei and Oppo, the company was at a financial loss for LG. Less than 10% of the world’s smartphone market belonged to LG at its height. That had decreased to 2% as of the end of 2020. LG phones had very successful phones at the beginning of the 2010s, but by the year’s close, its products just couldn’t separate from the competition. Experiments like Dual Screen didn’t appeal to consumers as much as foldable phones did.
LG claims it would shift its attention away from smartphone development and instead concentrate on electric car components, connected devices, smart homes, robots, artificial intelligence (AI), and business-oriented goods. It will collaborate with technology connected to the advancement of 6G wireless networking as part of its future mobile endeavors.
Is LG obsolete? They only left during the smartphone industry, though. LG has made use of technology and health advantages to differentiate its product. They advertise that their brand is young, vibrant, and premium because they are in the upper and premium segments.
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