LG quits the 'incredibly competitive' smartphone business
LG is to close its entire mobile business unit by July 31, and concentrate instead on components, connected devices, and smart homes. As expected following a $4.4 billion loss in 2020, LG has announced that it is to abandon the smartphone market. Other than what it describes as "inventory of some existing models," all LG smartphones will cease to be sold after July 31. "LG Electronics Inc. (LG) announced that it is closing its mobile business unit," said the company in a statement. "The decision was approved by its board of directors earlier today." "LG's strategic decision to exit the inc...