LG leaves the world's largest telephone market

Although LG has introduced record revenues of $5.4 billion last year, marking a 10.9 percent increase compared to the previous year, its mobile phone division continues to be in crisis.

Now, the Korean company is said to be leaving the world's largest telephone market: China.

Home appliances and LG televisions helped generate the highest annual income in company history last year, but its mobile business saw an operational loss of $192.33m in the fourth quarter.

This may have been an improvement compared to the loss of $331.37 million last quarter, but it was not a sign that its fate was ready to return, especially after LG posted only a profitable quarter in the last two years.

The LG has spoken of the strong competition faced by Chinese mobile brands é Huawei, Xiaomi and Oppo after Apple and Samsung on the list of biggest telephone companies in the world, and all three firms dominate sales in their country.

The LG reportedly has sold only 160,000 phone units in China during 2016 and is currently said to hold less than one per cent of the country's telephone market.

Models G6 and V30 ships were not launched in China, so the decision to leave the large Asian state may have been on company plans for a while.