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LG says ‘NO’ to phones but ‘YES’ to… electric powertrains?


Soon LG phones will be a relic of the past, as the company announced in April that on July 31 it will kill its mobile business worldwide. To compensate for its losses in the smartphone market, the South Korean company will turn to the profitable EV industry. But don’t expect an G- or V- EV series. LG will focus on what it knows best: electronics, only this time for auto parts. To that end, also on July 31, the company will officially embark on a joint venture with Canada’s Magna International, one of the world’s leading auto parts suppliers. LG has taken on…

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