THE DECISION WILL ENABLE THE COMPANY TO FOCUS RESOURCES IN GROWTH AREAS SUCH AS ELECTRIC VEHICLE COMPONENTS, CONNECT DEVICES, SMART HOMES, ROBOTICS, ARTIFICIAL INTELLIGENCE AND BUSINESS TO BUSINESS SOLUTIONS AS WELL AS PLATFORM SERVICES. — LG said in a statement.
South Korea’s LG Electronics said on Monday that it is closing its mobile business unit, adding that the current LG phone inventory will continue to be available for sale. The decision has been approved by its board of directors.#AlBawabaBusiness https://t.co/xqWSNaZ2Iy
— Al Bawaba Business (@AlBawabaBiz) April 6, 2021
Regarding Pre-existing devices – LG mentioned the support sale of its products will remain as it is. And may vary from region to region. And LG confirmed that they will close the manufacture of smartphones by the end of July 2021.
The company had previously said it will try to make its smartphone division profitable in 2021.
According to some reports in march 2021. LG tried to find a potential buyer for its smartphone business but later, LG came to final decision that they will shut down the division. The company also ceased the development of its upcoming phones with rollable displays.
As it lost offer to rivals, LG delivered a progression of eye-catching gadgets with strange structure factors. There was the LG Wing, whose primary showcase turned to uncover a more modest optional screen underneath it or its new double-screen gadgets. LG additionally took a shot at a secluded cell phone with the LG G5, just to surrender the activity a year later.
LG joins a long list of high-profile device makers to give up on smartphones over the years. However, many of the brand names have stuck around on devices made by third-party manufacturers. Nokia’s consumer-facing brand lives on atop handsets made by HMD. At the same time, Blackberry’s branding was initially used by TCL and is set to return this year on a device made by OnwardMobility. There’s also HTC, which still sells a few oddball handsets but sold most of its IP to Google in 2017. Who’s next?
Stay Tuned. Hope to catch you in the next one, Peace out to you.
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