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One-Time Pioneer LG Electronics to Close Smartphone Business

One-Time Pioneer LG Electronics to Close Smartphone Business
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RIP LG smartphones

RIP LG smartphones
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LG appears to pull out of money-losing smartphone business

Posted : 2021-04-01 16:51 Updated : 2021-04-01 17:51 LG Electronics Yeouido headquarter building displays G6 in lit-up windows to celebrate the release of the company s G6 smartphone in this March 31, 2017 photo. Courtesy of LG Electronics By Baek Byung-yeul LG Electronics appears to have decided to pull out of its money-losing smartphone business and entered into a transition process to relocate its mobile communications employees to other business units. After suffering operating losses since 2015, LG attempted recently to sell its mobile communications unit, which oversees the smartphone business. The company has reportedly been in negotiations with various interested buyers, including Vietnam s Vingroup, but failed to reach an agreement with any of them.

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