LG abandons the smartphone market

After many rumors, and indecision, here it is now official: South Korea LG abandons or market smartphones after 6 consecutive years of negative results, and that has caused the company to lose millions of dollars.

In a press release made available this morning, the company guarantees that its smartphones will remain available as long as stocks so allow, which should happen until July 31, 2021. In addition, the strategic decision to leave the mobile phone sector, which is incredibly competitive, will allow the company to concentrate its resources on growth areas, as components of growth. electric vehicles, connected devices, smart homes, robotics, artificial intelligence and solutions business-to-business, as well as platforms and Services.

LG Velvet

LG gives up on the smartphone market

Software support is expected to continue for current devices, but how long that support will last will depend on the region. More details are expected to arrive later today, but given that the company has been underperforming with firmware, at least in recent years, the situation is not expected to change much in the coming months.

LG’s remaining businesses, such as home appliances, televisions, and more, skip this decision to close the Mobile division.

SOURCE
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