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LG Electronics to close down smartphone business

LG Electronics, South Korea's second-largest appliance firm after Samsung, is closing down its...

👤 H K Badal6 April 2021 2:10 PM GMT
LG Electronics to close down smartphone business
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LG Electronics, South Korea's second-largest appliance firm after Samsung, is closing down its mobile phone business, the company said on April 5, after the division lost billions in recent years.

The firm, once considered a pioneer of the Android operating system, collaborated with Google on the Nexus series in the early 2010s.

But in recent years, it has been struggling to increase sales, facing tough competition from emerging cheaper Chinese rivals such as Huawei.

It was regularly listed among the world's top 10 smartphone manufacturers but according to tracker Counterpoint the last time it recorded a global market share of three percent or more was in the second quarter of 2018.