LG looking to outsource its budget phones to cut costs

[GSMArena]

According to a statement released by LG on Monday, the Korean tech giant plans to further outsource its low to midrange smartphones. The move is done in a bid to further cut costs after its disappointing earnings reports which saw the mobile division operating at a loss for 22nd straight quarter. LG plans to contract original design manufacturers (ODMs) to produce its budget phones and has already cut numerous projects for its self-developed entry-level phones choosing instead to invest more into its premium devices instead. Competition from Chinese smartphone brands has forced LG...

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