LG is shutting down its mobile phone business by July 31. Any existing phone in the market would continue to sell until supplies last, while support and software updates will remain available for some time. However, the company is officially taking off its interest and production from the mobile phone industry.
The rumor in the tech industry that LG is shutting down its mobile phone business ame true with the comany's official announcement in the LG Newsroom on April 5. The company said it that "stepping away from phone manufacturing and sales enables" themto "focus on growth sectors including EVs, IoT, and B2B solutions."
LG Electronics Inc . is a multinational electronics company headquartered in South Korea. The company is one of the biggest contributors to the market production of Home Entertainment, Mobile Communications, Home Appliances, and Air Solutions & Vehicle Components.
The Verge reported how the Korean Company has struggled with huge losses with the mobile division's salesover the last few years. LG's high-end smartphones had to compete against the rise …