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SKorea's LG to exit loss-making mobile phone business

China South Korea city Seoul 2020
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SEOUL – South Korean electronics maker LG said Monday it is getting out of its loss-making mobile phone business to focus on electric vehicle components, robotics, artificial intelligence and other products and services.

LG's board approved the shift in strategy and the company expects to fully exit the mobile phone business by the end of July, it said in a statement.

LG was once the third-largest mobile phone maker but has lost market share to Chinese and other competitors. It was still No.

3 in North America, with a 13% market share behind Apple's 39% and Samsung's 30% as of the third-quarter of 2020, according to Counterpoint Technology Market Research.

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information BLOCK
COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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