Technology
South Korea’s LG Electronics to exit mobile phone business – The New Daily
LG says it is getting out of its loss-making mobile phone business to to focus on electric vehicle components, robotics and artificial intelligence.
South Korean electronics maker LG says it is getting out of its loss-making mobile phone business to focus on electric vehicle components, robotics, artificial intelligence and other products and services.
LG’s board approved the shift in strategy and the company expects to fully exit the mobile phone business by the end of July, it said in a statement on Monday.
LG was once the third-largest mobile phone maker, but has lost market share to Chinese and other competitors.
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