South Korean company LG is discussing the fate of its mobile phone division.
LG admitted that over the past 23 quarterslost about $4.5 billion amid “tough competition.” It follows from the company's statement that its management believes that the moment has come when it is necessary to make the right decision regarding the mobile division, taking into account the level of competition.
Rumors that LG may get rid ofsmartphone business have been around for a long time. It was reported that the company may sell its mobile division. LG has now said that its employees should not worry about the fate of the smartphone business - they will not lose their jobs.