LG announces exit from the smartphone market

LG announces exit from the smartphone market
LG announces exit from the smartphone market

As much was expected over the past few weeks, LG has just officially confirmed the exit of the smartphone market, thus leaving a history of devices on the market.

According to the company’s statement, the decision was made strategically and approved by the company’s directors during the beginning of today, in order to allow the company to focus on other technologies such as components for electric vehicles, devices of the Internet of Things, robotics, Artificial Intelligence and others.

Despite this, LG says that it will continue to invest in the mobile technology market, with reference to 6G. However, the closure of its mobile division is scheduled for July 31.

The stock that still exists on the market will be available for sale during the period that it exists, but without new units to be produced from smartphones. In addition, the company’s current smartphone holders are expected to continue to receive software and hardware support for a “limited period of time”, without specifying specific details about the time to which the company is referring. It just states that support may vary from region to region.

Derived from this point, also the new LG Rollable, which was presented by the company as the next device to reach the market, should not see the light of day, thus making the LG Wing the last device to be officially launched on the market.

Although LG has never reached a relatively dominant market share, this exit leaves more room for other manufacturers to take advantage of the possible market opened by the company, such as Samsung or Apple.

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