LG’s solar business panel business joins the company’s smartphone business in the graveyard, with the latter business being canned last April as it could not compete with other smartphone brands in the market. Prior to the smartphone business closing shop, it had recorded 23 consecutive quarters of loss.
The decision was approved by the board of directors on Monday night, LG said.
LG’s solar panel production will start winding down next month, the company said, with the business to officially shut down at the end of June.
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