Reported early this year that LG Electronics Inc. (LG) is considering leaving the phone industry this 2021. That is because they struggled to compete with Samsung, Huawei, and other smartphone brands. This day, LG confirms that it will truly shut down its mobile business unit by posting to their newsroom website. In addition, the board of directors already approved the decision early today.
According to LG, their strategic decision to leave the smartphone sector will allow them to focus more on other business units. These include electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
The expected date of the total shut down of their mobile business unit is on July 31. However, after that, some existing models may still be available. Also, LG will still provide service support and software updates for customers of existing products for a while. And that will also vary by region.
Furthermore, the company will work cooperatively with providers and colleagues all through the closure of the smartphone business.
LG will also continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to assist further reinforcing competitiveness in other business areas. It will also retain its core technologies developed during the two decades of its mobile business operations. Which they plan to apply to existing and future products.
Source: LG Newsroom