South Korean electronics giant LG is reportedly very close to abandoning its smartphone business. The news comes from The Korea Times, which noted that the company had attempted to sell off some of its mobile operations but failed to entice a single buyer. As a result, LG is expected to make an official announcement on Monday about calling it quits on smartphones entirely.
“LG has considered various options such as a sale, split sales or pulling out of the smartphone business, but decided recently to pull out of the business,” according to industry sources, Thursday, adding that the company will make an official announcement at its board meeting on April 5. When asked to address such prospects, an LG Electronics official said, “There’s nothing to comment on.”
Source: The Korea Times