Today, LG Electronics has officially confirmed that it is closing down its mobile business division. The decision did not come as a surprise as several reports in the past have claimed that the South Korean company will be quitting the phone business. The announcement has come after its board of directors approved the “strategic decision.”
In its official statement, LG said that stepping away from the mobile phone business will allow it to focus on other areas like electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
Though it will not be manufacturing new phones, it will continue to provide support and software updates to existing customers for a certain “period of time” which will vary by region. To recollect, LG German confirmed last month that it will be releasing Android 11 OS update for phones like LG Velvet 4G, LG Velvet 5G, LG G8X, LG G8S, LG Wing, LG K52, and LG K42.
Existing phones will also continue to sell, but the company expects to completely wind down the mobile business by July 31. Until then, it will be working with suppliers and business partners for the closure of the mobile phone division. The South Korean company will be using its mobile expertise and mobile related technologies like 6G in other businesses, existing and future products.
The LG G5, which arrived as its first-ever modular smartphone back in 2016, and last year’s LG Wing with the rotatable display are some of the ambitious phones for which the brand will be remembered. The company was expected to launch the LG Rollable as the world’s first phone with a rollable screen, but it appears that it is unlikely to see a release.