LG announces exit from phone-making business

South Korea’s LG Electronics announced an exit from Phone-making business so as to focus its resources to other areas. The company will get rid of handset business unit by 1st of July but continue offering aftersell services to LG phone users. “Amid the market situation, the company has decided to use internal resources efficiently and focus on competitive businesses for future growth,” the company reported in a statement. The company announced that it will reallocate its 3700 staff to other LG business affiliates such as home appliance and automotive parts…