LG Announces Shut Down of its Mobile Phones Manufacturing Division

LG announces shut down of its mobile phones, yes its true, South Korean electronics company LG has announced the closure of its mobile phone manufacturing division due to a financial loss of billions of rupees during past few years.

LG has beared a heavy loss of $4.5 billion due to its mobile phone division during the past six years. So LG has finally decided to completely shut down its mobile phone manufacturing.

LG introduced various advanced technologies in mobile phone including ultra-wide angle cameras as compared to other mobile phone manufacturers. In 2013 LG had became the third largest smart phone manufacturer after Samsung and Apple due to various new innovations and improvements in smart phones.

Undoubtedly LG has seen a time when its smart phones were as popular as other top brands, but now the time has changed and the company cannot even bear the losses. So LG company finally announces the complete closure of its mobile phones as this division is not even getting the break even point for LG.