LG Electronics, who started smartphone manufacturing in 2010, has decided to plug in the mobile business unit after a long thoughtful decision and consecutive loss making affair.
The company made an announcement today so as to focus their energy and resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
LG further said its mobile expertise and development of mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas.
Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.
LG said it will continue to sell existing phones until their inventory runs out. For those with LG Smartphones you will receive service support and software updates for a period of time which is not yet specified.