LG and Sony have dropped smartphone sales

According to the earnings reports of the two companies, in the past quarter, Sony and LG sold far fewer smartphones than in

previous year.

All because of the competition

LG reported that sales of its smartphones fell by 21% compared with the same quarter last year. Sony's situation was a little worse - sales fell by almost 30%.

LG blames "slow premium sales4G models and intense market competition among mass products ”, which led to a decrease in results. Despite the recent release of the first 5G phone, the LG V50 and Sony Xperia 1, so far both companies have sold fewer devices than we would like. According to Bloomberg, Sony has lowered its annual smartphone sales forecast from 5 million to 4 million units this year.