Jan 21, 2021 - Technology

LG may ditch the smartphone business

LG smartphone.

Photo Illustration: Omar Marques/SOPA Images/LightRocket via Getty Images

South Korea's LG is weighing whether to exit the smartphone business as it tries to figure out what to do with the money-losing mobile division.

Why it matters: LG's struggles are similar to other big electronics companies that have struggled to gain enough of the business to turn a profit.

Driving the news: Reports LG might be seeking to get out of the smartphone began last week after Korean press reported an internal memo that mentioned the issue. LG basically confirmed as much.

  • "LG Electronics is exploring a variety of options in light of the headwinds facing our mobile business," a spokesperson told Axios. "Any additional comments would be speculation."
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