So LGs mobile division has been facing losses after losses for a very long time now. To be specific, their mobile division has reported 23 consecutive quarters of losses, that’s about 4.5 billion dollars over the last 5 years and as a result of this, LG is now considering quitting the smartphone market for good in 2021. LG recently teased a roll able smartphone at CES a few days ago, clearly indicating that. Also recently one of their executives said that the rumors about them exiting the smartphone business are “completely false and without merit.” However, in a dramatic turn of events, Reuters has found an internal memo from the CEO of LG that basically says that they are considering all options for its loss-making mobile division, which could include shutting its smartphone business or selling off parts of the unit. The CEO of LG said and I quote, “In the global market, competition in the mobile business considering current and future competitiveness Another LG executive explai...
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