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LG Exits Phone Business

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Apr 4, 2021, 9:20 PM   by Rich Brome

LG Electronics today announced that it is closing its mobile business unit, exiting "the incredibly competitive mobile phone sector". The company has lost money on phones for years, having trouble competing with Samsung and Apple. Current LG phones will continue to be sold at first, but the company plans to move relatively quickly, completing the "wind down" of the business by July 31. "LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region."

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