LG becomes first major smartphone brand to withdraw from market

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Currently LG phone global share is two percent, shipped 23 million phones last year.

South Korea's LG Electronics Inc said on Monday it will wind down its loss-making mobile division - a move that is set to make it the first major smartphone brand to completely withdraw from the market.

Its decision to pull out will leave its 10 percent share in North America, where it is the top-three brand, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics...

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