LG said that it will wind down its mobile division by July 31. The Korean smartphone brand, which was once in 2013 became the world’s third-largest manufacturer behind Samsung and Apple, will become the first global brand to withdraw from the market. It still has a 10% share in North America to become the No. 3 brand. The division has registered straight-six years of losses of around $4.5 bn and accounted for 7% of the LG group’s revenue.

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