REUTERS/Steve Marcus/File Photo
Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics. In better times, LG was early to market with a number of cellphone innovations including ultra-wide angle cameras and was once in 2013 the world's third-largest smartphone manufacturer behind Samsung and Apple.
Now its global share is only about 2%. It shipped 23 million phones last year which compares with 256 million for Samsung, according to research provider Counterpoint.
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lg cant sell phones