It's official: LG is exiting the smartphone business

02 Jan, 2022 Post a Comment

Later on nearly six years of continual losses, LG has pulled the plug on its smartphone unit. The Southwestward Peninsula producer made few of the Sunday-go-to-meeting Android phones over the years, merely devices like the LG Wing failed to make any headway.

LG sold a total of just 24.7 million phones last year, less than a one-tenth of its Southwestward Korean challenger Samsung. With the unit posting losses of $4.4 jillio over the last five years, LG has formally declared that it is exiting the transferable business. The brand will continue to sell its current stock, only IT will no longer produce phones.

LG aforementioned last year that it was open to "all possibilities" regarding its mobile division, including an outright sale. According to Korean news outlet Yonhap, the troupe was in talks with Vingroup of Annam and Volkswagen of Germany, but it unsuccessful to secure a buyer.

LG says that it will provide later on-sales service and software bear out to its existing portfolio — including the Android 12 update once that becomes for sale later this class. The company's web site (via XDA notes that it will roll out the upcoming Mechanical man update, and while there's No mention of what models will get the update, it wish likely be pocket-size to LG's flagships.

Going forward, LG leave focus on the EV segment, IoT, AI, and 6G:

LG's strategic decision to go the incredibly competitive mobile phone sphere will enable the accompany to focus resources in growth areas such as galvanic vehicle components, connected devices, smart homes, robotics, faux intelligence and occupation-to-business solutions, as well as platforms and services.

LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details attendant employment will be determined at the section level.

Streaming forward, LG wish continue to leverage its mobile expertise and develop mobility-related technologies much as 6G to assist further strengthen fight in other business areas. Core technologies developed during the two decades of LG's mobile business trading operations will also glucinium maintained and practical to existing and future day products.

The wind down of the mobile phone concern is expected to be completed away July 31 although inventory of close to existing models whitethorn still be open after that.

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