LG is quitting the smartphone business

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IslamNews – LG is getting out of the “incredibly competitive” business of making smartphones.
On Monday, the South Korean tech giant announced that it would close down its mobile phone unit after years of losses, marking the end of an era for a trailblazer in the Android world.
The division is expected to be wound down by July 31, although the company may continue to sell some of its existing models after that, according to LG Electronics.

On Monday, the South Korean tech giant announced that it would close down its mobile phone unit after years of losses, marking the end of an era for a trailblazer in the Android world.

The division is expected to be wound down by July 31, although the company may continue to sell some of its existing models after that, according to LG Electronics.

The “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,” the company said in a statement.

But the company’s devices have since dwindled in popularity, particularly as Chinese upstarts such as Xiaomi and Oppo have surged around the world. As of last year, LG was no longer even among the top seven players globally, according to Counterpoint Research, even though it is still the third most popular smartphone vendor in the United States, after Apple and Samsung, according to market research firm Canalys.

Source: BBC

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