Growing up as Tech Geek, I have seen a lot of businesses rise, fail and some even completely shut down. No one likes to see the business fail.
The reason for business failure might be Lack of planning, Leadership failure or Lack of profit, or anything that hugely impacted the business. Here is the list of top tech giants that faded in front of my eyes.
The tech that died in front of my eyes
Lg announces the company is going to shut down its mobile phone Bussiness in April 5, 2021.
The biggest reasons for LG failure is Lack of focus. The company always Ignored customer needs and never intended to learn from failure.
LG’s mobile division has had 23 consecutive money-losing quarters, and its last profitable year was in 2014.
Building hype is the biggest trend in marketing. And LG sales and marketing did that, at one point in time LG announces one of the best smartphones for an affordable price and sadly nobody knew that in India thanks to the LG marketing team. I even made a video on this issue back in 2018.
LG isn’t a small brand to just say goodbye. LG was the first in the world to launch a smartphone with a flexible screen, wide-angle camera, good curved screen, and more but failed and now officially out of the market.
Thank you LG