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LGE to Exit Smartphones on April 5
The Korea Times reports LGE will exit the smartphone market on April 5 after failing to turn a profit for several years. LG has suffered operating losses since 2015, and despite churning out some truly innovative devices, the company hasn’t been able to turn its mobile business around. The company attempted to find a buyer, allegedly entertaining interest from Volkswagen and Vietnam’s Vingroup JSC, but the talks seemingly didn’t pan out.
The Korea Times reports LGE will exit the smartphone market on April 5 after failing to turn a profit for several years. LG has suffered operating losses since 2015, and despite churning out some truly innovative devices, the company hasn’t been able to turn its mobile business around. The company attempted to find a buyer, allegedly entertaining interest from Volkswagen and Vietnam’s Vingroup JSC, but the talks seemingly didn’t pan out.
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Barry Young
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