End of an era. LG closed its smartphones division. The manufacturer said in an official statement that ditching the mobile phone business would allow it to focus on other areas.
Today, April 5, 2021, LG Electronics Inc. (LG) has officially announced the closure of the mobile division: the decision, as noted, has already been approved by the board of directors.
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Yes, LGElectronics today confirmed that it is closing its mobile business unit. This decision came as no surprise, as it was repeatedly reported in the past that the South Korean company would abandon its telephone business. The announcement came after the board of directors approved a “strategic decision.”
In an official statement, LG said that the move away from the mobile phone business would allow it to focus on other areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business solutions, and platforms and services.
Rumors that LG intends to leave the smartphone market have been circulating for a long time. Earlier it was said that the company was negotiating the sale of its mobile division with several potential buyers at once. Alas, it was not possible to conclude an agreement. LG also failed to sell the mobile business in parts.
Therefore, the company had no choice but to simply wind up the business of cellular devices. In an official statement, the company says that the closure of the respective division will allow focusing efforts in other areas.
Among them are components for electric cars, robotics, smart home equipment, artificial intelligence systems, connected devices, as well as various related services.
Although LG will not manufacture new phones, the company will continue to provide support and software updates to existing customers for a certain “time frame” that will vary by region. As a reminder, LG German confirmed last month that it will release an Android 11 OS update for phones such as the LG Velvet 4G, Velvet 5G, G8X, G8S, Wing, K52, and K42.
Existing phones will continue to be sold as well, but the company expects to phase out its mobile business entirely by July 31st. Until then, she will work with suppliers and business partners to close the mobile phone division.
The South Korean company plans to leverage its mobile expertise and mobile-related technologies such as 6G in other companies, existing and future products.
It is noted that LG’s existing mobile assets are still being offered for purchase. In doing so, LG will provide support for existing products.
LG also says it will continue to develop technologies related to mobile networks. We are talking, in particular, about the communication systems of the sixth generation (6G).