LG Electronics closing its loss-making smartphone business.
LG started its mobile business in 1995 and enjoyed success in feature phones, but failed to keep up with the competition and began to sink after the appearance of smartphones.
Since the second quarter of 2015, LG’s mobile business has been at a loss for 23 consecutive quarters. The decision to close the smartphone business and shift the focus to the more profitable areas was inevitable.
Learn more about LG’s decision to close the smartphone business.