LG quits the ‘incredibly competitive’ smartphone business

LG is to close its entire mobile business unit by July 31, and concentrate instead on components, connected devices, and smart homes.

The LG V50, a dual-screen 5G smartphoneThe LG V50, a dual-screen 5G smartphone

As expected following a $4.4 billion loss in 2020, LG has announced that it is to abandon the smartphone market. Other than what it describes as “inventory of some existing models,” all LG smartphones will cease to be sold after July 31.

Read more…