LG is said to be planning to bid farewell to the PC industry soon.

The South Korean electronics giant has the option to exit completely from the PC industry; however, the company may scale down its PC production over time and then completely withdraw from the market.

"The market for conventional PCs has been losing its luster as smartphones and tablets are replacing the products. We are reviewing various options in a bid to improve the profitability of our computing business. It's true that LG has been allocating its resources to popular connected and portable devices," said an LG executive to The Korea Times.

The company's executive also said that LG's new home entertainment (HE) division chief Ha Hyeon-Hoe will reveal the firm's updated strategies at a news conference on January 7 in Las Vegas.

"As Ha previously led the way to boost synergy between LG's technology affiliates when he was the head of 'LG Synergy Team,' the new TV chief will present new strategies to offset the falling profits of its TV business and revamp the PC business," added the LG executive.

LG is not the only PC maker who is cutting down on its PC productions. Samsung Electronics also recently announced that it will reduce production of its "T-Tower" PCs.

Another LG official said that there will still be a demand for traditional PCs in the future but it does not make sense to allocate more resources to a declining industry.

The PC industry is struggling as demand for tablets is increasing at a rapid pace. Reports suggest that tablet shipments with surpass PC shipments by 2015.