Wednesday, 07 April 2021 17:51

LG Electronics announces permanent closure of its worldwide smartphone division

Written by Alondra Gutiérrez

The strategic decision to exit the competitive smartphone sector will allow the company to focus its resources on important growth areas such as electric vehicles, IoT devices, smart homes, robotics, artificial intelligence and B2B solutions, as well as platforms and services.

The current inventory of LG smartphones will continue to be available for sale, depending on each country. LG will offer service support and software updates for existing smartphone customers for a period of time that will vary by region. LG will work collaboratively with suppliers and business partners during the closure of the smartphone business. Details related to jobs will be determined locally.

Going forward, LG will continue to leverage its smartphone expertise and develop mobility-related technologies, such as 6G, to help further strengthen competitiveness in other business areas. Key technologies developed over the two decades of LG's smartphone operations will also be retained and applied to existing, and future products.

LG's exit from the smartphone industry is expected to be completed by July 31, although inventory of some existing models may still be available after that. LG will continue to analyze certain assets for possible sale following the closure of its smartphone division.

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Last modified on Wednesday, 07 April 2021 17:58