LG Electronics announced that it will close its mobile phone business unit. LG has lost around $4.5 billion in its smartphone business over the past five years, as competition, especially from China, is strong. LG's global smartphone market share is around 2% and the company did not manage to find a buyer for its money-losing unit.
In the past few years LG aimed to focus on high-end phones with new designs, especially the Explorer series of next-generation phone designs and technologies. The first Explorer phone was the LG Wing, a unique smartphone that sports dual displays in a swivel revolving display design. The Wing sports a main 6.8-inch 2460x1080 flexible LGD P-OLED display and another 3.9-inch 1240x1080 G-OLED (LG's rigid OLED brand) display.
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