There have been rumors going around for months concerning LG ending their smartphone manufacture business. Well, the rumors are true. LG will exit smartphone manufacture business on July 31,2021.
The company is expected to liquidate its existing inventory immediately after the announcement, this process may go all the way to July.
LG sold around 23 million smartphone devices last year which is a smaller number compared to Samsung who sold 256 million smartphone devices.
In their statement, LG says it wants to focus on 6G wireless infrastructure and other related areas which can apply to mobile related technologies like electronic vehicles components.
If you own an LG smartphone and you are wondering what will happen to future software updates, the company announced that software updates will continue for the current devices, though no assurance for how long the updates will be released.
However, updates will vary depending on the region of your occupancy. LG is expected to release more details in the coming days.
The company’s smartphone business hasn’t been doing well in the last six years facing back to back quarterly losses. A Vietnamese company was reported to be in talks to buy the smartphone division but the negotiations broke down.
LG electronics will however continue making TVs and other home appliances.
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