LG has announced that it is shutting down its smartphone business, the company has struggled to compete with the likes of Samsung, Apple, Xiaomi, Huawei and many others.
The news came via an official press release, the company will continue to sell its existing models and support them, more details below.
LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in 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.
LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level.
This is something that has been rumored for the last few months, as the company has struggled to sell its devices. You can find out more information about LG’s plans to close its mobile phone business at the link below.