As a company with a wide range of businesses, LG Electronics not only produces smart phones, but also produces products of various purposes, including television, computers, microwave ovens, air conditioners, etc. Benefiting from the strong sales of high-end OLED TV and home appliance businesses, LG delivered its best financial report since 2009, with annual revenue of $57.45 billion in fiscal 2017, up 10.9% year on year, and net profit of $2.31 billion, 85% year-on-year growth. However, the strong growth of LG Electronics as a whole cannot hide the weakness of LG's mobile phone business. The market share of the former world's third largest mobile phone manufacturer is now almost negligible. In the fourth quarter of 2017, LG's mobile phone business lost 192 million dollars, which is the 11th consecutive quarterly loss of LG's mobile phone division.

LG has just released its new flagship models LG G7 ThinQ and G7+ThinQ in the United States recently. LG mobile phones have finally caught up with the current flagship configuration of Android phones at the first time. Last year's LG G6 was criticized for carrying the backward generation Snapdragon 821, which ultimately led to poor sales. Although the newly launched flagship model has not yet come into the market, Korean media reported that LG mobile phone business decided to adjust the existing strategy, and LG mobile phone intended to return to China.

LG believes that the previous plan of targeting Apple and Samsung for high-end models has caused LG to lose a lot of market share in the middle and low end. Therefore, this time, LG will provide models with more reasonable pricing and high cost performance in China, and give up focusing on high-end models in the Chinese market. The head of LG Mobile said that they hope to use Hong Kong as a springboard to enter the Chinese mainland market in the future. In order to promote sales, LG South Korea's sales department will be responsible for Hong Kong and mainland China from this year. However, the outside world is not optimistic about this. After all, the competition in China's smartphone market has become increasingly fierce. Apple, Xiaomi, OPPO, vivo, Huawei and other manufacturers have almost divided up the market. Samsung, LG's big brother in South Korea, currently has a market share of only about 0.8%.

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