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LG scraps its smartphone business as losses mount

Getty Images LG Electronics said on Monday it would close down its loss-making smartphone business. In January, the South Korean electronics giant said it was looking at all options for the division after almost six years of losses totalling around $ 4.5bn (£3.3bn). LG had made many innovations including ultra-wide angle cameras, rising to third […]

Mobile

LG confirms it is closing down its mobile phone business

LG has confirmed it is exiting the global mobile phone business. The Korean company announced the news on Monday, April 5, local time, saying that leaving the “incredibly competitive” mobile phone sector will enable it to focus on growth areas “such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, […]

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China Orders Ant Group to Revamp Its Business

The country’s central bank made clear its displeasure with the financial technology company, adding to the growing scrutiny of Chinese internet giants. Chinese regulators on Sunday ordered the financial-technology giant Ant Group to fix what they described as a litany of business failings, escalating a pressure campaign that has been building since the government abruptly […]

Computer

Trump administration looking at banning business with China’s largest chip maker

The Trump administration is reportedly looking into adding China’s largest chipmaker to the Commerce Department’s entity list, which will severely restrict the company’s business with U.S. firms. A spokeswoman told Reuters that the Defense Department was working with other agencies to determine whether Semiconductor Manufacturing International Corporation should be blacklisted, similar to the treatment against […]