LG and Sony have dropped smartphone sales

Sony and LG sold far fewer smartphones last quarter than in the previous quarter, according to the two companies' earnings reports.

previous year.

All because of the competition

LG said sales of its smartphones fell 21% compared to the same quarter last year. For Sony, the situation was a little worse - sales fell by almost 30%.

LG Blames 'Slow Sales of Premium4G models and intense market competition among mainstream products,” which led to lower results. Despite recently launching the first 5G phone, the LG V50 and Sony Xperia 1, both companies have so far sold fewer devices than they would have liked. Sony has cut its full-year smartphone sales forecast to 4 million units this year from 5 million, according to Bloomberg.