Today, LG confirmed that it’s shutting down its business division. the choice has not come as a surprise as multiple reports within the past have claimed that the South Korean company are going to be quitting the phone business. The announcement has come after its board of directors approved the “strategic decision.”
In its official statement, smartphone said that stepping faraway from the business will allow it to specialise in other areas like electric vehicle components, connected devices, smart homes, robotics, AI , and business-to-business solutions, also as platforms and services.
While it’ll not be manufacturing new phones, it’ll still provide support and software updates to existing customers for a particular “period of time” which can vary by region. to remember , LG confirmed last month that it’ll be releasing Android 11 OS update for phones like LG Velvet 4G, LG Velvet 5G, LG G8X, LG G8S, LG Wing, LG K52, and LG K42.
Existing phones also will still sell, but the corporate expects to completely wind down the business by July 31. Until then, it’ll be working with suppliers and business partners for the closure of the division. The South Korean company are going to be using its expertise and related technologies like 6G in other businesses, existing and future products.
The LG G5, which came back as its first modular smartphone in 2016, and the rotatable display with last year’s LG wing are a number of ambitious phones the brand is going to remember. the corporate was expected to launch the LG Rollable because the world’s first phone with a rollable screen, but it appears that it’s unlikely to ascertain a release.