By Shawn Lim
South Korean electronics giant LG has announced it is shutting down its smartphone business as it struggles to keep up with competition from Apple, Samsung and Huawei.
The business will now concentrate on building electric-vehicle components and robotics manufacturing, as well as its home-appliances business, which fared well during the Covid-19 pandemic.
Why is LG doing this?
LG was, at one time, the world’s third-largest phone maker by shipments and is still the biggest US tech vendor after Apple and Samsung.
However, its overall phone business has fallen behind in the past six years and has been in the red for 23 quarters consecutively, Read full story ›
Source: The Drum