LG is exiting the smartphone business

Mounting losses means the chop for this aspect of its business

LG has lost almost $4.5bn over the last 6 years and try as they might they have been unable to come up with a solution to stem these losses.

Despite talks to sell the smartphone portion of the business the shut down will go ahead as these talks fell through.

“LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics and artificial intelligence,” it said in a statement.

With this shut down LG will now concentrate on items such as electric vehicle batteries and other items such as smart home and their lucrative TV sales side of the business.

Sadly despite some amazing innovations in the smartphone over the last few years by LG, most recently the LG Wing (seen above), it is now over.

If you have a fond memory of an LG phone, let us know in the comments below.