Last week, we reported that LG Electronics would quit the smartphone industry and it is now official. As posted in the company's newsroom, their mobile business unit will shut down and the decision was approved by its board of directors just earlier today.
With the exit, the company stated that this will allow them to put more focus and allocate the resources to other areas. This includes electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services. They will continue to develop mobile technologies such as 6G as well as applying core mobile technologies to other products.
For those who still have an LG smartphone, the company will continue to provide service and software support and updates but depends on the region. Current LG phone inventories are still available for sale and LG will work closely with suppliers and business partners on the closure.
As for the employees who belong to the mobile business unit, there's no word about what would happen to them but earlier leaks suggest that they will be relocated to other divisions. The mobile phone business closure is expected to be completed by 31 July 2021.
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