Technology
LG seriously considering exiting the smartphone business, all options on the table – Notebookcheck.net
LG is considering exiting the smartphone business despite teasing new devices as recently as CES 2021 last week. The company’s CEO Kwon Bong-seok has informed staff…
LG is pondering whether it should exit the smartphone business altogether. The Korean tech giant has recorded twenty three consecutive quarters without a profit with losses totalling over US$4 billion across the past five years. Rumors first surfaced about the drastic measures being considered earlier this week that the company moved to quickly quash, however a memo from CEO Kwon Bong-seok to staff has now confirmed their worst fears.
An LG official had this to say:
Since the competition in the…
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