The company will stop producing phones in July 2021.
LG Electronics Inc. announced that will permanently close its Smartphones division. With this decision, the company will allocate resources in important growth areas such as electric vehicles, IoT devices, smart homes, robotics, artificial intelligence and B2B solutions, as well as platforms and services. The complete exit from this market will take place on July 31, 2021.
At the moment, the brand’s mobile devices will continue to be sold until sold out. Service support and software updates will even be offered to existing smartphone customers for a period that varies by region.
After several years of losses, after the disclosure of its low figures, LG has decided to officially close its mobile phone business. The Korean company will focus its experience in the mobile sector to develop other related technologies. LG will focus on mobility, on the development of the next 6G and other future products.
Key technologies developed during the two decades of LG’s smartphone operations will also be preserved and applied to existing and future products. (I)