LG confirms it will no longer make smartphones: Here’s what happened

LG has announced that it will stop making smartphones and will exit the phone business. This news comes in after around six years of consistent losses incurred by the South Korean company.

With this, LG will leverage focus on the EV (Electric Vehicles) components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, along with platforms and services. Read on to know more about it.

LG is exiting the smartphone business

LG’s move to stop making smartphones has been rumoured for some time now and is no shock since the company has been failing to compete with tough contenders such as Samsung, Apple, and the popular Chinese smartphone makers.

The company produced intriguing phones such as the LG Wing, the dual-screen LG G8x ThinQ, and more. But still couldn’t make a mark and stand out.

The mobile expertise will also be used to put a focus on 6G. It is also revealed that whatever technologies the company has developed during its two-decade-long business will be utilised in other existing and future products.

While the decision to stop making phones means we won’t see the highly-rumoured rollable phone, there are chances that the devices that have been completed might see the light of the day as the company’s “last dance.”

To recall, LG has been long-rumoured to shut its smartphone business. It was also expected to sell the business for which it was reportedly in talks with a couple of companies. However, closing the business was deemed best suited.

What about existing LG phones?

This doesn’t mean that it will forget about its current phone lineup. LG, via a press release, has suggested that the LG smartphones will remain available for sale and inventory of some models will still be available. The company will also provide users with after-sale services and software updates. The time period will be different for varying regions.

However, there’s no word on which LG smartphones will get the software updates. The phones are expected to get Android 12.

It is suggested that “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.”

LG will be winding up the business by July 31 this year.

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