According to a Reuters report, LG has announced the closure of its mobile business. The company has been making losses in its mobile division for the last six years. The company said in a statement that in view of the continuing damage to the mobile segment, the company has now discontinued it to focus on other areas such as electric vehicle parts, connected devices and smart homes. Could focus.
As mentioned, LG has been facing losses for the last several years, while there have been reports that the company is going to close its mobile segment business in the next few days. However, no official statement was issued by the company at the time. But now the company has cemented all previous leaks with the announcement of the closure of the business.
It is said that the company will shift the employees of its smartphone division to other LG electronics businesses.
The statement added that even if the company closes its mobile business, it will continue to provide services such as service support and software updates for existing mobile products.