LG to close down its mobile phone business
Published on : Mon, 05 Apr, 2021
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DCNEPAL
Photo:AP
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Kathmandu, April 5. South Korean electronics maker LG said Monday it is getting out of its loss-making mobile phone business. The company wants to focus on electric vehicle components, robotics, artificial intelligence and other products and services.
The company is all set to withdraw its shares and completely exit from the market by July. It was still No. 3 in North America, with a 13% market share behind Apple’s 39% and Samsung’s 30% as of the third-quarter of 2020, according to Counterpoint Technology Market Research.
The company said it was selling its phone inventory and would continue to provide services and support for various periods of time depending on where they are sold.
The company’s shares fell 2.5% on Monday.
Published on: २०७७ चैत २३ गते १६:४३
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