LG said to be shifting resources from smartphones to TV

LG has plans to shift its resources and focus on businesses in which it believes it can be more successful, according to a new report.

Korean IT news outlet ET News reported on Wednesday that LG has started to shift some resources from its smartphone operation to its television business.

The main thrust of the move is to focus on reducing its workforce in its smartphone division, ET News claims, citing industry sources.

LG will maintain the same level of research and development investment in the smartphone division.

According to the news outlet’s sources, LG believes that smartphones are still important, but in the short term, its best chances of success reside in televisions.  More