LG decided to shut down its smartphone business?

LG decided to shut down its smartphone business?

The bad news for LG smartphone lovers is that the South Korean company LG Electronics has decided to stop manufacturing and selling Smartphones.

LG has announced that it will stop manufacturing and selling smartphones after July 31, making LG the first smartphone company to withdraw from the smartphone market.

According to LG's statement, the company's mobile division has lost 4.5 billion in the last six years and will now focus on electric vehicle devices and smart homes.

In 2013, LG was the third-largest smartphone maker on the planet after Samsung and Apple, but later LG's flagship models began to face software and hardware issues. According to analysts, the most reason was the shortage of experts.

LG currently has only a 2% share of the worldwide smartphone market, consistent with Counterpoint.

LG sold just 23 million phones last year, compared to its rival Samsung's 256 million.

LG currently has about 10% market share in North America, where it's the third-largest company after Apple and Samsung. Like North America, LG features a large share in Latin America and is ranked fifth there.

It should be noted that the entire business of LG Electronics is split into five parts. The mobile division is the smallest.

According to reports, LG was in talks with Vietnam's One Group to sell its smartphone division, but it didn't computer.