LG might say a goodbye to its smartphone business

LG may be about to give up its smartphone business.

The speculation came into being in January when it was revealed that its mobile cash-losing division would be sold, reduced, or shut down. LG planned to abandon the mobile business according to The Korea Times.

The paper says an official statement will be published next week, 5 April, following the long-term fate of the LG Board Meeting.

The company has sustained a loss since 2015, but recent rumors that the firm is planning to exit the Smartphone Market or to sell its Tablet Division are no surprise. According to the latest article on this issue, the organization has agreed to abandon the smartphone market and will soon announce plans.

The group is looking at different alternatives for its mobile segment, including the sale of the whole division, splitting it up, and quitting the telecommunications industry. According to LG Electronics' official. In addition, rumors circulated on Twitter a few days earlier that LG Mobile employees would move to the Home Electrical Department.

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