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New report suggests LG could (partially) exit smartphone market

January 20, 2021


LG’s Mobile Communications division has reported 23 consecutive quarters of losses and, despite recent improvements, a complete shutdown was said to be on the table last week.

Those rumors were quickly rebuffed by the brand when contacted for a comment, but now additional reports suggest LG does indeed have some important changes in the pipeline for its business.

Five companies have submitted bids for LG’s smartphone business

In a statement sent to staff this morning, Reuters and Korea Herald quote LG CEO Brian Kwon as saying the following:

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