LG thinks about shutting down its smartphone business

After six years of losses, LG might finally call it quits. 

On Wednesday, LG CEO Kwon Bong-seok sent a message to company staff saying LG's smartphone division has to change, The Korea Herald reported. And according to an unnamed LG official, this could mean withdrawal from the smartphone business, as well as selling or downsizing the company's mobile division. 

“Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice," the official told the outlet. 

Bong-seok told the staff that, regardless of the choice LG makes regarding the smartphone division, there will be no layoffs.  Read more...