After months of speculation, LG has officially announced it is closing its smartphone division. The decision was approved by its board of directors earlier today.
Off late, the tech-pioneering company has been struggling with smartphone sales despite their efforts to stay afloat. It was only a matter of time before they finally decided to give in.
LG says their strategic decision to leave the competitive mobile sector allows the company to focus on mobile-related technologies such as 6G and focus resources on growth areas like electronic vehicle components and Smart homes.
The company will continue to dispatch its current inventory starting today until July 31 when it’s expected to be completed. Service support and software updates will continue for existing handsets. How long the support and updates last will vary by region. Not sure what the plan is on current projects like the rollable phone.
LG’s statement continues to say, they will work closely with suppliers and business partners throughout the closure of their mobile phone business. LG was in negotiations with different companies including a Vietnamese company but the talks failed to bear any fruit.
It’s worth noting that their other divisions like TVs and home appliances remain in place.
Next; Sony discreetly announces a launch event for April 14; could unveil the Xperia 1 III
Alfred Gitonga is a passionate tech news writer with a deep interest in smartphones and related technologies. He is a staff writer at Mobitrends.co.ke.
