LG Electronics
LG makes televisions, home appliances and vehicle components. It closed its phone business in 2021 after years of losses, having helped invent the category.
About LG Electronics
LG Electronics no longer makes phones, and the way it left is worth recording because the company spent two decades helping define what a phone was. It shipped some of the most inventive hardware anyone made - the second screen on the V series, the modular G5, the wide-angle camera that everybody else eventually copied - and could not turn any of it into a sustainable position against Samsung and Apple. On 5 April 2021 it announced it was closing the mobile business worldwide, and the division was wound down by 31 July. Reported losses over the preceding 23 consecutive quarters came to around USD 4.5 billion. What remains is substantial. LG is one of the largest television manufacturers in the world and the main producer of OLED panels for televisions, including panels sold to competitors. It makes home appliances, air conditioning, and a growing business in electric vehicle components. The company was founded in 1958, originally as GoldStar, and is headquartered in Seoul.