LG says it won't be making smartphones anymore

LG hasn't been able to cope in a highly competitive smartphone market.

LG has been running at a loss in a competitive smartphone market for years now (Business Insider)

pulse senegal

South Korean electronics manufacturer, LG, has confirmed that it is cutting its losses by shutting down its mobile phone operations.

Once considered a rival to fellow South Korean manufacturer Samsung, LG’s recent high-end smartphones have struggled to compete, while its more affordable handsets have faced stiff competition from Chinese rivals, The Verge writes.

The company had previously said it hoped to make its smartphone division profitable in 2021, but that dream is now dead in the water.

The company says its smartphone resources will now be channeled towards electric vehicle components, robotics and artificial intelligence, among others.

“LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, and artificial intelligence.

“It will also focus on business-to-business solutions as well as platforms and services,’’ the statement reads.

LG wants to “continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas."

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Avocado Pear: The health benefits of this fruit are priceless

Ngozi Okonjo-Iweala wants us to wear Ankara; here are 4 style tips

Actress Rachel Bakam is dead

Google honours Oliver De Coque on his 74th posthoumous birthday

Man stabs Chief Imam to death over alleged love affair with wife

5 natural ways to make your teeth white and shiny

How to deal when you no longer find your partner attractive

Meet 7-year-old Fotocopy; the hottest Ghanaian rapper at the moment (WATCH)

Dangote: Cement price from our factories is between N2,450 and N2,510 per bag, VAT inclusive