SEOUL -- LG Electronics said on Thursday that it will withdraw from its solar panel business, having been priced out of the market by Chinese manufacturers jostling for control.
The company will terminate its production and sales by the end of June and relocate its roughly 900 employees. With increasing inexpensive Chinese solar panels hitting the market, the South Korean conglomerate said it would shift to manufacturing more profitable home appliances, TVs and making parts for the automobile sector.
