Rumours about the future of its mobile segment have run rampant in recent months
LG will reportedly close its mobile division next week after months of speculation according to sources from South Korea.
An announcement on the future of the company is expected on April 5 and with LG failing to sell the division, it now looks as the mobile sector will be closed for good.
The South Korean vendor has seen 23 straight quarters of loss in mobile and in the last ten years, LG has consistently lost share in global markets.
Its stock has fallen in the UK mobile smartphone market to just one per cent from 8 per cent in 2008.
For more analysis on LG’s recent woes in mobile, click here.