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LG is considering leaving the smartphone business

January 20, 2021

Via: TechSpot
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LG might be an industry leader when it comes to the likes of televisions, monitors, and home appliances, but it’s a small player in the world of smartphones, struggling to catch up with its rivals. Now, the company is reportedly considering hanging up on its mobile business for good.

LG shipped 6.5 million smartphones in Q3 2020, down 7.2 million compared to the same quarter a year earlier. With the group losing about 5 trillion won ($4.5 billion) across the last five years and holding just a two percent global market share, CEO Kwon Bong-seok has advised staff in an internal memo that big changes are coming, according to The Korean Herald.

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