LG quits mobile phone business

South Korean vendor LG confirmed speculation it is to close its mobile phone business, after suffering years of declining market share and huge competition from the likes of Apple and Samsung. In a statement today, the company noted its decision will enable it to focus resources “in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.” LG also cited 6G as an area of focus: “Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas.” Its mobile phone unit is expected to close by July 31, although customers will continue to be supported with service and software updates.

Link: LG quits mobile phone business
via http://www.mobileworldlive.com

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