Leading smartphone brand completely withdraw from the market

MUMBAI: Leading electronics brand LG has completely withdrawn from the market and will cease production following a slump in the mobile industry, company sources said. The company has lost more than $ 4.5 billion in the past six years.

With the cessation of mobile phone production, LG will focus on manufacturing electric vehicle parts, smart home products, and other devices, according to company officials. In better times, LG was early to market with a number of cell phone innovations including ultra-wide-angle cameras, and was once in 2013 the world’s third-largest smartphone manufacturer behind Samsung and Apple.