fbpx
Saturday, April 1, 2023
Home Business LG Withdraws From Phone Business

LG Withdraws From Phone Business

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

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 said.

 

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.

 

 

 

See also  Recession: PDP Advises FG to Allow Free Market Economy

© 2021, Scud News. All rights reserved.

- Advertisement -

Most Popular

How Abacha’s Son Died In Abuja… The Untold Story

Controversy over sudden death of Mr. Abdullahi Abacha, son of late General Sani Abacha, in Abuja, the nation's capital city on Saturday.

Police Escorts Go Haywire At Sokoto Airport Over Ex-Gov Yari’s Largesse

Three police officers attached to a former governor of the State, Abdul’aziz Yari, displayed a show of shame at the Sokoto Airport on Friday.

Dangote’s Top Expatriate Manager Commits Suicide

Residents of Okpella in Edo State are bewildered over the death of a top-ranking expatriate staff of the Dangote Cement Factory at the bustling community in

2023: Fulfill Campaign Promises, Delta Assembly Aspirant Urges Politicians

Delta State Assembly aspirant, Engr Foburuku has said the fulfillment of campaign promises made by politicians seeking electoral offices.
See also  Dana Air Introduces WhatsApp Booking

© 2020 – 2021, Scud News. All rights reserved.

%d bloggers like this: