LG plans to close the mobile business
- AJust some 6-7 years ago LG was one of the major players in the smartphone market, producing annually about 70 million units. Unfortunately for all the fans, in recent years, the company's business was not very good, it did not produce the most commercially successful smartphones, sales fell tenfold and eventually the manufacturer suffered losses.
Realizing that the company can not cope with the competition, the leadership has decided to say goodbye to the mobile business. At the moment the South Korean company is thinking about what to do after all: completely close the production of smartphones or still produce a small number of devices.
According to financial documents, the last five years, the mobile sector of LG invariably ended the financial year with losses, so it is not surprising that sooner or later it had to end.
Realizing that the company can not cope with the competition, the leadership has decided to say goodbye to the mobile business. At the moment the South Korean company is thinking about what to do after all: completely close the production of smartphones or still produce a small number of devices.
According to financial documents, the last five years, the mobile sector of LG invariably ended the financial year with losses, so it is not surprising that sooner or later it had to end.