LG reportedly going to close down its smartphone division for good on 5 April 2021


So it has finally happened, previous rumour news about LG shutting down its smartphone division is getting closer to reality. It was reported by a reputable South Korean media outlet due to the company's poor revenue and profit in the smartphone industry.

According to industry sources, LG tried several options on selling its mobile communication unit and splitting sales but ultimately pulling out of the smartphone business. Apparently, they have tried since 2015 and were negotiating terms with Vingroup from Vietnam which failed to reach a mutual agreement. LG will make an official announcement during a board meeting on 5 April.

Despite this news, LG responded to other media platforms like Android Authority that they do not respond to speculation. But at this point, it seems pretty much the end for them as they have been struggling to sell their phones for pretty much a long time. Plus, Twitter user @FrontTron tweeted that LG could reassign the smartphone division employees to the home appliance division. He also claimed that LG wouldn't continue rolling out phone software updates in the future.

Oh well, I guess we all have to wait and see the official announcement by LG on 5 April 2021. Will you miss them or not? Let us know in the comments below and stay tuned for more trending tech news at TechNave.com.