Among the reasons pointed out by the company is the concentration of resources in areas of growth, such as components of electric vehicles, connected devices, smart houses, robotics, artificial intelligence and business-to-business solutions, as well as platforms and Services.
For those who already own a branded cell phone, LG will provide service support and software updates to customers of existing mobile products for a period that varies by region.
According to the website “The Verge”, the company tried to find a buyer for the mobile phone unit, but did not find it, which sealed the closure.
Key technologies developed during LG’s two decades of mobile business operations will also be maintained and applied to existing and future products.
The company’s business slowdown is expected to be completed by July 31, although the stock of some existing models may still be available after that.
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