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    A003550   KR7003550001

LG CORP.

(A003550)
  Report
End-of-day quote. End-of-day quote Korea Stock Exchange - 04/28
126500 KRW   +6.75%
05/17S.Korean stocks end lower as virus spikes across Asia spur caution
RE
05/14LG  : Net Profit Surges 79% in January-March Quarter
MT
05/14S.Korea stocks log biggest weekly drop in nearly 3 mths
RE
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LG Electronics fans bemoan end of era as firm exits smartphone business

04/06/2021 | 03:40am EDT
FILE PHOTO: LG Electronics' Wing smartphone is displayed at a store in Seoul

SEOUL (Reuters) - Fans of LG Electronics smartphones rued the loss of more affordable Android-based devices after the South Korean tech company said on Monday it would quit the business, with some praising LG for the innovation it brought to the industry.

LG smartphone users in South Korea and the United States posted nostalgic tributes on social media after the firm announced the exit, citing a prolonged sales slump. LG still holds a roughly 10% share of the U.S. smartphone market, according to researcher Counterpoint, though its slice of the global pie is just 2%.

"Please release the Rollable phone before you die," said one user on a 300,000 member-strong forum on Naver, South Korea's largest online search portal, referring to LG's latest expandable display https://www.cnet.com/news/lg-rollable-phone-makes-ces-2021-appearance-and-were-intrigued concept that the company flaunted at the CES trade show in January.

Fans fondly noted some of the company's more unique designs, such as a T-shaped dual screen, as well as features including a double-tap to turn a screen on and off.

"LG has some of the best audio hardware of any phone," Kim Dong-woon, who has used six LG smartphones, told Reuters. "It's a shame that LG is withdrawing."

Influential U.S. tech reviewers echoed the sentiments.

"LG were never perfect but in a world of boring slabs they delivered some of the most unique phone designs, ideas and features ever," said YouTuber Austin Evans https://twitter.com/austinnotduncan/status/1378894062388797441 on Twitter.

LG, which had been making mobile phones for about a quarter of a century, ultimately fell behind rivals Apple Inc and Samsung Electronics Co Ltd, in part due to lacklustre marketing and slow software updates.

Its smartphone division logged nearly six years of losses, totalling roughly $4.5 billion by the end last year.

For all the fandom, some criticised the phones, saying the shutdown was inevitable.

"The writing has been on the wall for a long time ... things didn't improve," said user cdegallo on Reddit.

(Reporting by Joyce Lee and Heekyong Yang in Seoul; Additional reporting by Shubham Kalia in Bengaluru; Editing by Sayantani Ghosh)

By Joyce Lee and Heekyong Yang


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.00% 126.205 Delayed Quote.-4.84%
LG CORP. 6.75% 126500 End-of-day quote.44.57%
LG ELECTRONICS INC. 0.34% 148500 End-of-day quote.10.00%
NAVER CORPORATION 1.48% 342500 End-of-day quote.17.09%
SAMSUNG ELECTRONICS CO., LTD. 2.04% 80100 End-of-day quote.-1.11%
XIAOMI CORPORATION 1.72% 26.6 End-of-day quote.-19.88%
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More news
Financials
Sales 2021 7 760 B 6,88 B 6,88 B
Net income 2021 2 359 B 2,09 B 2,09 B
Net cash 2021 2 698 B 2,39 B 2,39 B
P/E ratio 2021 9,10x
Yield 2021 2,07%
Capitalization 22 146 B 19 493 M 19 643 M
EV / Sales 2021 2,51x
EV / Sales 2022 2,29x
Nbr of Employees -
Free-Float 52,9%
Chart LG CORP.
Duration : Period :
LG Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 136 230,77 KRW
Last Close Price 126 500,00 KRW
Spread / Highest target 29,6%
Spread / Average Target 7,69%
Spread / Lowest Target -24,9%
EPS Revisions
Managers and Directors
NameTitle
Kwang-Mo Koo Chairman & Co-Chief Executive Officer
Young-Soo Kwon Vice Chairman & Co-Chief Executive Officer
Beom-Jong Ha Director & Head-Finance
Jae-Woong Lee Managing Director, Head-Legal & Compliance Support
Sang-Tai Choi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
LG CORP.44.57%19 493
CINTAS CORPORATION-0.40%36 983
TELEPERFORMANCE SE15.33%22 331
BUREAU VERITAS SA14.29%13 581
EDENRED-2.50%13 520
INTERTEK GROUP PLC3.36%13 266