LG hints at possible exit from the smartphone market
(Android Central)

A final decision is expected to be made sometime in the coming weeks. What you need to know LG may give up on the smartphone market this year. The company`s CEO has told employees that it is open to `all possibilities` for the smartphone business. LG`s smartphone business has lost close to $4.5 billion over the past five years. After losing money in the smartphone market for five years straight, LG may finally call it quits this year. According to a report published by The Korea Herald, the company`s CEO Kwon Bong-seok has told employees that it is `considering all possible measures, including sale, withdrawal and downsizing of the smartphone business. In a statement sent to the publication, an LG official said: Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice. Confirming the authenticity of the internal memo, an LG spokesperson told The Verge: LG Electronics managemen...