LG may ditch the smartphone business
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."