LG may be on the verge of abandoning its smartphone business.
The speculation first surfaced in January, when it was announced that the company was considering selling, downsizing, or shuttering its cash-losing mobile division. According to The Korea Times, LG has made the decision to exit the smartphone market.
According to the report, an official announcement is coming next week, on April 5, after the LG board meeting determines the mobile division’s long-term fate.
The company has been operating at a loss since 2015, but recent reports that the firm was considering leaving the handset market or selling its tablet division come as no surprise to those who have tracked the company’s struggles. According to the most recent report on the subject, firm has made up its mind and will soon announce plans to exit the mobile market.
According to LG Electronics official, the firm is exploring a variety of options for its mobile market, including selling the entire division, breaking it up, and leaving the handset business altogether. Furthermore, just a few days back, rumors spread on Twitter that LG Mobile workers would be moving to the home appliances division.