LG Announces the Closure of Its Mobile Business

LG Electronics revealed that it would close its mobile business unit this year. Effective July 31, the company will no longer manufacture any of its current mobile phone models, nor will it create new ones in the future. In a press release, LG said that its strategic decision to exit the incredibly competitive mobile phone sector will enable the company 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 service.

Link: LG Announces the Closure of Its Mobile Business
via gritdaily.com

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