These past few weeks, reports were circulating that LG plans to close their mobile division. Unfortunately, the day has finally come and LG is stepping away from phone manufacturing. In a press release from Seoul, South Korea, LG announced that it is closing down its mobile phone business worldwide. The LG Wing, V60, and Velvet were the company’s last hurrah. Below are few things you should know, especially if you own an LG smartphone.
LG Closes Mobile Phone Business
LG Electronics Inc. recently announced that it is closing its mobile business unit. The decision was approved by its board of directors earlier today (April 5th). This will give the company the chance to focus growth on other sectors like EVs, IoT, and B2B solutions.
LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources on growth areas. This includes electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
LG Phone Inventory and After Sales Support
There are still LG phones (unsold) in retails stores worldwide. The current inventory will continue to be available for sale. As for after-sales support, LG will provide service support including software updates for customers of existing mobile products.
LG didn’t mention a specific date until the support will last. They only said LG will continue support “for a period of time which will vary by region”. LG will also 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.
The wind-down of the mobile phone business is expected to be completed by July 31, although the inventory of some existing models may still be available after that.
What’s Next for LG?
Moving forward, 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.
It’s unfortunate to see LG shutting down its mobile phone business. I love their V series and they are the only company that offers high-quality audio playback with a headphone jack. Some of their phones, like the dual-screen V60 and Velvet, are unique and I believe to be underrated.
The LG Wing was “unique” in its way. But I guess, people weren’t really into swivel phones or dual-screen displays. You have to give it to LG, they were not afraid to try things out and experiment with their phones.