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LG to focus on TV and move away from smartphones: report

The electronics manufacturer is reportedly moving resources away from phones and into its TV division.

LG may be shifting resources into areas it believes it can be more successful in, such as TVs, and out of its smartphone business.

The LG G2. (Credit: CBS Interactive)

The report comes via Korean IT news outlet ET News, which says that the shift in resources will reduce the workforce in the smartphone division, although not the overall R&D investment.

According to the news outlet's "industry sources", LG believes that, while smartphones are still important, in the short term, its best chances of success reside in televisions.

With the LG G2 flagship getting rave reviews, along with the LG-made Google Nexus 5, the news may be a little surprising.

If the report turns out to be true, it may give Apple and Samsung a clearer path to making the smartphone market a two-horse race.