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LG to pull out of mobile phone market

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April 05, 2021 at 11:56AM

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South Korea firm promises service and software support as it shifts focus to more profitable businesses

South Korean electronics manufacturer LG has decided to wind down its mobile phones unit after admitting defeat in the global smartphone market.

LG said on Monday it had made a “strategic decision to exit the incredibly competitive mobile phone sector” to focus on growing businesses such as supplying electric car parts.

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