LG Electronics will close down its mobile division due to Huge Losses. Mobile division has logged six years of losses totalling roughly Rs. 33,010 crore.
LG has market with a number of cell phone innovations including ultra-wide angle cameras and was once in 2013 the world’s third-largest smartphone manufacturer after Samsung and Apple.
Its flagship models suffered from software and hardware which combined with slower software updates.
LG has lack of expertise in marketing compared to Chinese smartphone makers.
LG has its global share is only about 2 percent.
Also LG’s smartphone division is the smallest of its five divisions.
The division’s employees will be moved to other LG Electronics businesses and affiliates while elsewhere decisions on employment will be made at the local level.
LG will continue to provide service support and software updates for customers of existing mobile products for a period of time which will vary by region.
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