LG Electronics may exit the smartphone business after losing about 5 trillion won ($4.5 billion) over the past five years, according to The Korea Herald. What’s more, At the same time, LG is reportedly ending its production of LCD displays for the iPhone, according to The Elec.
“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,” an LG official explained. “The company is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business.”
As for the iPhone, LG Display stopped iPhone LCD production at its AP3 line at Gumi in the third quarter of 2020. The line also stopped making panels for other phones as well in the fourth quarter.
The Elec says that, for LG Display, the LCD line for iPhones has been low in profitability. Apple also used organic light emitting diode (OLED) panels instead for its iPhone 12 series.