by Harish Jonnalagadda on (#5G62W)
LG decides to call it quits after failing to turn a profit with its mobile unit.What you need to knowLG has confirmed that it is exiting the smartphone segment.LG is currently the ninth-largest smartphone manufacturer in the world, but the South Korean brand failed to make a profit in the last five years. LG says it will focus its efforts on 6G, EV tech, IoT, robotics, and AI.After nearly six years of continual losses, LG has pulled the plug on its smartphone unit. The South Korean manufacturer made some of the best Android phones over the years, but devices like the LG Wing failed to make any headway.LG sold a total of just 24.7 million phones last year, less than a tenth of its South Korean rival Samsung. With the unit posting losses of $4.4 billion over the last five years, LG has officially announced that it is exiting the mobile business. The brand will continue to sell its current inventory, but it will no longer produce phones.LG said last year that it was open t...