LG Officially Confirm their exit in Smartphone Business Completely. Earlier today LG announces their exit from Smartphone business and the decision was approved by Board of Directors.
From now on we won’t see any new Smartphone from LG electronics and we won’t see any Innovative Phone from LG like LG G8x, LG Wing etc.
Complete wind down of the Mobile business is expected to be done by july 31 although the Sale of the Existing device’s will continue and LG will also Provide service and Software Updates Support to existing Device’s Holders for certain Period that to Vary by region.
After decision to make exit from Mobile Phone Business the Company will now mainly focus on resources Like electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
Further LG says they will continue to leverage its mobile expertise and use it in Development of 6G to help further strengthen competitiveness in other business areas. LG also said the Core technologies developed within the two decades of LG’s mobile business operations will be retained and to be applied in their existing and Future Products.
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