South Korea's LG becomes first major smartphone brand to withdraw from market; a loss-making department for electric giant

SEOUL, April 5 (Reuters): South Korea's LG Electronics Inc said on Monday it will wind down its loss-making mobile division - a move that is set to make it the first major smartphone brand to completely withdraw from the market.

Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics .