One-time pioneer LG Electronics to close smartphone business


LG was one of the pioneers of the Android operating system, collaborating with Alphabet Inc’s Google on the Nexus smartphone line and producing some of the best camera and display technology in the category’s early days. — Reuters

LG Electronics Inc is shutting down its loss-making mobile communications unit in a move to streamline operations and focus on future projects such as electric vehicle components.

The company will end production and sales of mobile phone products on July 31 to focus resources on growth areas including EVs, smart homes, robotics and artificial intelligence, it said in a statement. Phones constituted 8.2% of LG sales last year and there will be a short-term loss of revenue but the company expects the closure to be financially favourable in the long run. It’ll strengthen its car-parts business and continue to develop mobile technologies such as sixth-generation networking and cameras, it said.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

How 'CoComelon' became a mass media juggernaut for preschoolers
Evolution of smartphone damage: From drips to drops
Are you tracking your health with a device? Here's what could happen with the data
US judge rejects SEC bid to sanction Elon Musk
What's really happening when you agree to a website's terms of service
Samsung ordered to pay $118 million for infringing Netlist patents
Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with another $4 billion
Factbox-Who are bankrupt Northvolt's creditors?

Others Also Read