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2021/04/07 16:47 LG smartphone (Pixabay photo) LG smartphone (Pixabay photo) TAIPEI (Taiwan News) South Korea s LG Electronics Inc. will close its mobile phone business after years of struggling to compete against the likes of Apple, Samsung, and Chinese rivals. In a statement on Monday (April 5), the Seoul-based company announced that it would completely withdraw from the global smartphone business in July amid declining shipments and mounting losses. The move is set to make it the first major device manufacturer to bow out of the market. With its global market share having shrunk to just 2 percent in 2020, LG described the closure of its mobile division as a strategic decision and said it will focus on other core areas such as vehicle components and robotics instead. It also explained that its withdrawal from smartphones could further strengthen its competitiveness in the long term.
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