Business
2021-04-07T04:00:02+00:00

LG Electronics to shut down global mobile phone business

LG Electronics announced Monday that it will terminate the company's loss-making smartphone business unit.

"LG’s 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, as well as platforms and services," the company said in a statement.

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