How LG Electronics lost race in fast-growing Indian smartphone market

LG Electronics that was once the world’s third-largest handset maker and saw its feature phone business peaked some 10 years back, was never a serious contender in the fastest-growing India market, industry watchers reiterated on Monday.

LG that has shut down its mobile business, has been striving to make a turnaround in its mobile business in recent years, including launching the niche foldable smartphone called ‘Wing’ — a dual-screen device with a rotating form factor but its sales were apparently disappointing.

According to Tarun Pathak, Associate Director at Counterpoint Research, LG had 0.15 per cent market share in 2019 and 0.30 per cent in 2020.