from AKANI CHAUKE in Johannesburg, South Africa
JOHANNESBURG – LG Electronics is closing its mobile business unit.
Its board of directors approved the decision on Monday.
It will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence (AI) and business-to-business solutions, as well as platforms and services.
The wind down of the mobile phone business is expected to be completed by July 31.
“Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas,” LG stated.
Based in South Korea, LG has operations in 140 locations and a workforce of over 70 000 around the world.
It had 2020 global sales of more than US$56 billion.
– CAJ News