LG announces that it will withdraw from the phone industry

LG, which has many different product segments, announced that it will turn off the phone unit and will no longer produce phones.

With the official statement made LG phone It was announced that he would say goodbye to its production. The company, which could not achieve the expected success in the market although it has included the most different models recently, announced that it will close its mobile phone business unit. Explanations and details from the company are as follows;

LG ends phone production

LG Electronics Inc. (LG) announced that it is closing its mobile business unit. The decision was approved by the board of directors earlier today.

LG’s strategic decision to exit the highly competitive mobile phone industry will enable the company to direct its resources to 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.

Current LG phone models will continue to be available for sale. LGwill provide service support and software updates for customers of existing mobile products – for a period that varies by region. LG will work collaboratively with suppliers and partners throughout the closure of the mobile phone business. Employment details will be determined at the local level.

LG announces that it will withdraw from the phone industry

LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen its competitiveness in other business areas. LG’s mobile business The core technologies developed during the two decades of its operations will also be preserved and applied to current and future products.

Closing work at the mobile phone business unit is expected to be completed by July 31st, although some current models may still be available after this date.

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