After weeks of rumours, LG has officially confirmed that it’s exiting the smartphone business.
In a statement, the company said, “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 says their current inventory of phones will be available for purchase while supplies last. After that, the company won’t be announcing any new phones in the market in the future.
In terms of software updates, LG said they are currently rolling out Android 11 for some devices and “intend to provide an Android 12 OS upgrade, for select models.”
As for the future, LG will be using their mobile expertise to develop technologies such as 6G.
Any details about employees of LG’s smartphone division will be determined at the local level.
The complete wind-down of LG’s smartphone business is expected to complete by July 31, 2021.