LG to Close Mobile Phone Business

From PC Mag: LG announced that it will close its mobile phone business, still the #3 player by sales in the US. The company will sell down its existing inventory of phones such as the LG Stylo 6, LG Wing and LG Velvet, while continuing to provide support and software updates "for a period of time which will vary by region."

"LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services," the company said in a press release.

The company had reportedly sought a buyer for its long money-losing phone business, but hadn't found any takers.

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