LG Electronics officially announces exit from mobile business after money-losing performance
Shortpedia
Content TeamImage Credit: Shortpedia
LG Electronics said on Monday that it will withdraw from the mobile business after years of money-losing performance amid intensifying competition with bigger rivals. The South Korean tech powerhouse said in a regulatory filing that its mobile communications (MC) unit will no longer produce and sell handsets after July 31, citing its long slump and fierce competition in the industry.