LG Considering Exit From Smartphone Business, 60 Percent Employees to Be Moved to Other Units: Report

LG has reportedly lost about $4.5 billion (roughly Rs. 32856 crores) over the past five years, and an official claims that it was time for LG to make a cold judgement. The company is said to be “considering all possible measures, including sale, withdrawal and downsizing of the smartphone business.”