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By Staff Writers on Apr 6, 2021 6:37AM Fails to find a buyer. LG Electronics will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10 percent share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple with its domestic rival expected to have the edge. "In the United States, LG has targeted mid-priced - if not ultra-low - models and that means S...

LG Electronics set to exit smartphone business 06 Apr 2021 / 09:32 H. LG Electronics says dropping out of the fiercely competitive mobile sector will allow it to focus on growth areas such as electric vehicle components, connected devices and smart homes, – REUTERSPIX SEOUL: South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to ...

South Korea’s LG Electronics Inc will wind down its loss-making mobile phone division after failing to find a buyer, making it the first major smartphone brand to completely withdraw from the market. The company will end production and sales of mobile phone products on July 31 to focus resources on growth areas including electric vehicles (EVs), smart homes, robotics and artificial intelligence, it said in a statement. Phones constituted 8.2 percent of LG sales last year and there will be a short-term loss of revenue, but the company expects the closure to be financially favourable in the l...

South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market.

<div class="at-above-post addthis_tool" data-url="https://www.metro.us/south-koreas-lg-becomes/"></div>SEOUL (Reuters) – South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_...