		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="1">
		</amp-ad>
				</div>
			</div>
		</div><p>South Korean electronics maker LG has said it is getting out of its loss-making mobile phone business to focus on electric vehicle components, robotics, artificial intelligence and other products and services.</p>
<p>LG’s board approved the shift in strategy and the company expects to fully exit the mobile phone business by the end of July, it said in a statement.</p>
<p>LG was once the third largest mobile phone maker but has lost market share to Chinese and other competitors.</p>
<p>It was still number three 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.</p>
<p>LG earlier said it was assessing its strategy as it reported that its sales rose 5% from a year earlier in the last quarter of 2020 but profitability declined due to sluggish sales of premium products.</p>
<p>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.</p>
<p>Details related to jobs would be decided “at the local level”, it said.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68cd2f16626a1">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68cd2f16626a1',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
