LGLG’s mobile business had been bleeding cash - nearly $2 billion in nearly 3 years - and at the Consumer Electronics Show 2018 in Las Vegas, the South Korean giant told the world that it was ready to cut losses and stop the hemorrhage. At a press conference at CES, LG Electronics CEO Cho Sung-jin said that “we will unveil new smartphones when it is needed. LG's shake up is similar to what Sony did over 3 years ago when it also decided to drastically scaled down its ambitions in the mobile market. It's market share never recovered since, although the mobile division is back in the black. Why it makes business sense for LG to stop making smartphones

Source: Forbes January 14, 2018 20:21 UTC