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In recent years, LG has strived to maintain its share of the smartphone market. Earlier this year, it was reported and later confirmed that LG will be making some tough calls regarding its smartphone business, and now it looks like we’ll hear the result on April 5.
The Korea Times LG reports that LG has made a decision on the future of its smartphone business, and that’s not good news for anyone hoping to keep buying LG hardware. Apparently, LG has decided to “withdraw from its money-losing smartphone business”.
According to this report, LG will shut down its mobile business and publicly announce the decision on April 5 at its next board meeting. After closing its store, the company is trying to transfer its employees to other units of LG’s business.
After suffering operating losses since 2015, LG recently attempted to sell its mobile communications unit, which oversees the smartphone business. The company has reportedly been in negotiations with various interested buyers, including Vietnamese Vingroup, but has failed to strike a deal with any of them.
Of course, it’s April 1st, so we have to take all on the Internet today with a grain of salt. That said, this one seems pretty likely. We have seen several reports that LG is exiting the smartphone business, and last week it was reported that the company is deciding whether to sell or just ditch the smartphones. At this point, it seems almost certain that they did. RIP, maybe?
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