LG announces it will exit the worldwide smartphone market this year

LG has announced it will be pulling out of the smartphone market worldwide to focus its resources on other growth areas like electric vehicles, smart homes, connected devices and AI.
Last year, LG had just three per cent of the smartphone market which is dominated by Samsung, Apple, Huawei and Xiaomi which together had a 63 per cent market share.
LG says the smartphone division will be wound down by July 31, 2021.
The LG Velvet which was released in 2020
LG’s smartphone business has record