Are you fond of your LG phone? I’m guessing that you don’t even have one. 3% global market share and lackluster hardware has kept LG from making any headway in this competitive market. For that reason, and the losses totaling $4.4 Billion, they are exiting out of the market quickly. They claim they will offer the next version of the Android O/S when it comes out, but my peers are just as skeptical on this… why support something you no longer even make replacements for?
LG Electronics’ board has tired of its loss-making smartphone business and ordered its closure.
The South Korean electronics titan announced the decision on Monday, after enduring six years of operating losses totaling an estimated US$4.4bn.