![\"\"](\"https:\/\/ljdevice.com.tw\/wp-content\/uploads\/2021\/04\/960x0-300x169.jpg\")
<\/p>\nApr 5, 2021<\/p>\n
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In a\u00a0press statement<\/a>, the company said the decision has been approved by its board and the company expects to fully exit the mobile phone business by the end of July.<\/p>\n<\/div>\n LG is the third biggest smartphone brand in the U.S., making up about 11% of all smartphone sales in the country last year,\u00a0according to<\/a>\u00a0analytics firm Counterpoint Research.<\/p>\n PROMOTED<\/p>\n<\/div>\n<\/div>\n<\/div>\n \n \n LG said exiting the smartphone business will allow it to focus on growth areas such as electric vehicle components, connected devices, smart homes and artificial intelligence.<\/p>\n<\/div>\n All three major wireless networks in the U.S.\u2014AT&T, Verizon and T-Mobile\u2014presently offer LG smartphones as part of their cellular plans, most of which are cheaper than Samsung and Apple\u2019s more premium devices.<\/p>\n<\/div>\n LG\u2019s shares fell 2.52% on Monday after the announcement.<\/p>\n<\/div>\n<\/div>\n LG\u2019s decision to pull the plug on its smartphone business comes after the division reported nearly six consecutive years of losses totaling around $4.5 billion,\u00a0according to<\/a>\u00a0Reuters. At their peak, LG\u2019s smartphones went up against Samsung\u2019s Galaxy line of devices, as the two premier brands running Google\u2019s Android operating system. However, a series of software and hardware issues and stagnation in design began LG\u2019s slide, which was further accelerated by cheaper and more feature-packed phones from Chinese makers like Xiaomi, Huawei and Oppo.\u00a0 LG\u2019s current global share of smartphone sales is only around 2% and it shipped just 23 million phones last year compared to Samsung\u2019s 256 million, according to Counterpoint.<\/p>\n For existing LG smartphone users, the company has promised to provide \u201cservice support and software updates\u201d for a \u201cperiod of time which will vary by region.\u201d LG is still in the process of rolling out the 7-month-old Android 11 operating system on some of its smartphones, and it\u2019s now unclear if any of its phones will receive Android 12 when it launches later this year.<\/p>\n\n\n\n\n\n\nKEY BACKGROUND<\/h2>\n
WHAT TO WATCH FOR<\/h2>\n