As announced, LG Electronics said it has officially closed the global mobile business and the decision was approved by the company’s board of directors earlier this morning.
Accordingly, LG said this strategic decision to exit the highly competitive mobile phone field, on the other hand, allows the company to focus resources on growth areas such as electric vehicle components and connected devices, smart homes, robots, artificial intelligence and B2B solutions as well as platforms and services.
Current LG phone inventories will continue to be open for sale. LG will provide service support and software updates to customers of existing mobile products over a period of time that varies by region.
LG also said it will cooperate with suppliers and business partners during the shutdown of the mobile phone business. The details regarding employment will be determined at the local level.
Going forward, LG will continue to develop its expertise in mobile and develop mobile-related technologies such as 6G to further enhance its competitiveness in other business areas.
Core technologies developed over the last two decades of LG’s mobile business will also be retained and applied to current and future products.
The mobile phone business is expected to be completed by July 31, 2021, although inventories of some existing phone models may remain later.
Thus, LG has officially said goodbye to the mobile business and in those years, there are many stories full of emotions and that will be a memory that will last forever. Lastly, thank you LG Mobile for everything.
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