Last week, South Korean manufacturing giant, LG, released its financial results for 2017. For the past two years, LG’s mobile business has suffered huge losses and it only managed to get a meager gain in the first quarter of 2017. Looking at the values that were released last week, the company lamented that the competition from Chinese brands is pushing it out of business in China. Now, reports coming out of China suggests that LG is pulling out of the Chinese smartphone market. A representative of the company at its Beijing office said
“LG mobile phone business has quit China.”
Gizchina News of the week