LG today confirmed that it is closing its mobile business unit. This decision came as no surprise, as it was repeatedly reported in the past that the South Korean company would abandon its telephone business. The announcement came after the board of directors approved a “strategic decision.”
In an official statement, LG said that the move away from the mobile phone business would allow it to focus on other areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business solutions, and platforms and services.
While LG will manufacture new phones, the company will continue to provide support and software updates to existing customers for a certain “time frame” that will vary by region. As a reminder, LG German confirmed last month that it will release an Android 11 OS update for phones such as the LG Velvet 4G, LG Velvet 5G, LG G8X, LG G8S, LG Wing, LG K52 and LG K42.
Existing phones will continue to be sold as well, but the company expects to phase out its mobile business entirely by July 31st. Until then, she will work with suppliers and business partners to close the mobile phone division. The South Korean company plans to leverage its mobile expertise and mobile-related technologies such as 6G in other companies, existing and future products.