It isn’t totally official yet, but it looks like LG is very likely going to shutter its smartphone business. According to Mashable, the company has been considering selling, downsizing or shuttering its smartphone operations since January. Now, The Korea Times reports that a decision will be officially announced at the company’s board meeting on April 5.
There have reportedly been some parties interested in purchasing LG’s mobile phone division, but the company was unable to reach any agreements. It shouldn’t come as a surprise that the company is looking to offload this aspect of its business, as the division hasn’t turned a profit since 2014. The company has also seen a significant decline in its share of the global smartphone market in the last few years.
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Which major tech company may stop making smartphones? - GovTech
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