LG announced the closure of Mobile Phone Business Worldwide
1 month ago
LG Electronics Inc. on Monday, April 5 announced that it is closing its mobile business unit. By closing its smartphone business unit, the company will now focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
According to LG, the company’s phone inventory will continue to be available for sale and it also provides service support and software updates for customers of existing mobile products for a period of time which will vary by region.
“Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products “said LG.
The complete shutdown of the mobile phone business unit is likely to take place by July 31 but the inventory of some of its existing models may still be available after that date.