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Thursday, April 8, 2021

LG is closing its mobile phone business

LG Electronics says it’s closing its mobile phone business in the next four months.

The business unit is expected to be closed by 31st July 2021, although some phones may still be available after that date. LG will continue to provide service support and software updates for a while.

It says the company’s board of directors made the decision on Monday 5th April, enabling the company to focus its 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”. The mobile business unit was delivering less than 10% of the company’s revenue.

In a statement, the company said “LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products”.

Last year LG launched the innovative Wing smartphone with a dual screen – and back in 2006 it launched the LG Prada, which was acclaimed as the world’s first capacitive touchscreen smartphone.

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Author: The Fonecast
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