<Anchor>
LG Electronics has finally decided to withdraw from the smartphone business.
It has been 26 years since LG ICT started mobile business in 1995.
This is reporter Han Ji-yeon.
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LG Electronics held a board meeting today (5th) and decided to withdraw from the mobile business in charge of the MC division.
LG Electronics' withdrawal of the smartphone business is due to intensifying business competition and continued sluggish business.
LG Electronics' MC division recorded a loss for 23 consecutive quarters from the second quarter of 2015 to the fourth quarter of last year, and the amount of deficit reached 5 trillion won during that time.
LG Electronics said, "We will focus our capabilities on core business and improve business structure by using internal resources efficiently."
LG Electronics' decision was made more than two months after it announced that it would review all possibilities, including the sale of its smartphone business.
Earlier, on January 20, LG Electronics said, "It is time to make the best choice by calmly judging the current and future competitiveness in relation to the mobile business." There is a bar.
Since then, LG Electronics has contacted Vietnam's Vingroup and German automobile group Volkswagen to sell the business, but it is reported that there has been no progress in discussions.
LG Electronics started its mobile business in 1995 with LG Information and Communications, and enjoyed its heyday, ranking third in the world market share.