The Korean company, LG, announced recently that they are officially quitting the smartphone business after 12 years. This decision came after years of struggling in the competition against popular brands such as Apple and Samsung. The company has also suffered billions of dollars in losses from its smartphones globally.
Even though they were claimed to be the third-largest smartphone maker in 2013, LG suffered tremendous losses with their products that were too gimmicky and not functional enough to compete with bigger brands. Despite this, they tried to make smartphones with new innovations and features such as a curved smartphone screen and a rollable tablet phone that was supposed to be released this year.