Elombah
Take a fresh look at your lifestyle.

LG to shut down mobile phone business

40

The South Korean electronics manufacturer, LG is closing its loss-making mobile phone business.

The board of directors approved the move on Monday, LG Electronics said in a statement released in Seoul.

The shutdown of LG’s mobile phone sector is expected to be completed by the end of July.

“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 and artificial intelligence.

“It will also focus on business-to-business solutions as well as platforms and services,’’ the statement added.

LG wants to “continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas’’.

Core technologies developed during the two decades of LG’s mobile business operations are to be retained and applied to existing and future products, the company said.

LG’s withdrawal from the smartphone business had been on the horizon for some time.

The division has shown an operating loss for years. (dpa/NAN)


© Copyright 2020 ElombahNews.

DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 

For adverts & inquiries, call +447460770987, +2349050382526

Comments are closed.