LG Electronics announces it will no longer make or sell smartphones, becoming the first major smartphone brand to withdraw from the market

Published Apr 05 2021 at 3:37 AM GMT
Key
Points
  • South Korea’s LG Electronics said on Monday it will wind down its loss-making mobile division – 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 per cent share in North America, where it is the No.
  • 3 brand, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics.
  • The division has logged nearly six years of losses totalling some US$4.5 billion, and dropping out of the fiercely….




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  • Published Apr 5, 2021 3:37 AM GMT