S. Korea's LG Electronics to end mobile phone production

Economy

South Korean technology company LG Electronics Inc. said Monday it will exit its unprofitable mobile phone business in the face of stiff competition from rivals like Samsung Electronics Co. "LG Electronics has been closely reviewing the direction of its mobile business, and at a board meeting on April 5 it decided to exit the mobile business by July 31," the company said in a statement, adding that it plans to focus on its core business to prepare for the future. LG Electronics said in January it would consider "all possibilities" for the future of its mobile phone division. The company first ...

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