LG, one of the most famous and oldest manufacturers of mobile phones, has officially announced today that it is giving up the production of products of this kind in order to focus on other projects, after years of trying to come back to attention consumers.
LG says that this radical change will direct the company to invest more in the development of components for electric cars, interconnected devices, smart homes, robotics, artificial intelligence, plus services for companies around the world.
LG will not forget the customers who bought its phones until now, and will continue to offer support and warranty for various periods of time, depending on the legislation of each country, so that people will be helped in case they need.
LG had 5 years of losses with the phone division, and the decision to give up the production of this type of devices was rumored for some time, but finally it was put into practice at the moment, and its place will be taken by other Chinese manufacturers very quickly.
LG Electronics Inc. (LG) has announced that it is shutting down its mobile business unit. The decision was approved by its board of directors earlier today.
LG's strategic decision to exit the incredibly competitive mobile phone sector will allow the company to focus resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions , as well as the platforms and Services.
Current inventory of LG phones will continue to be available for sale. LG will provide service support and software updates for customers of existing mobile products for a period of time that will vary by region. LG will work in collaboration with suppliers and business partners during the shutdown of the mobile business. Employment details will be determined locally.
Going forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help strengthen competitiveness in other business areas. Core technologies developed over LG's two decades of mobile operations will also be retained and applied to existing and future products.
The mobile rollout is expected to be completed by July 31, although inventory of some existing models may still be available after that.
