LG Smartphones RIP

What can I say about a well-engineered smartphone line that was doomed to irrelevance because the parent company never understood how to differentiate its products (other than price)? Ever hear anyone say, “I can’t wait for the new LG smartphone to come out!” No? I haven’t either.

Nice features at a price only gets you so far. LG still has about a 10 percent share of the U.S. smartphone market, but less than 2 percent globally. After Apple (21%) and Samsung (16%), rounding out the top seven global smartphone manufacturers are Xiaomi (11%), Oppo (9%), vivo (8%), Huawei (8%) and realme (4%). LG falls into the 23% of “other.” (Counterpoint Research: Global Smartphone Market Share 2020 Q4.)

So, wait. Making a great product isn’t enough? No. Making a great product is table stakes. Making an exceptional product may get you somewhere, but if you want to win, emotionally connecting with your customers and constantly working to improve the relationship is generally the best (albeit hardest) way to take a bunch of features and turn them into product benefits that people dream about. Looking at the history of LG Smartphones, they never even got close.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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