In some sad news for the mobile industry, LG have today announced they are closing their mobile phone business around the world.
The news was expected after weeks of rumours and conversations online about not if, but when this was going to happen after sales took a massive hit over the years and there looked like no way back.
LG have come up with some great innovations over the years such as the LG G Flex 2 pictured above with it’s curved screen which felt great to hold and use when I got hands on a review device for CoolSmartPhone many years ago.
Also pictured is the LG G4 which offered a leather back option for those who wanted something a bit different, this has been copied over time but started with the G4
With network stores starting to pull out of ranging LG smartphones, and the company failing to compete with the likes of Samsung and Apple, it was only time until the news was going to happen.
Also with the rise of other manufacturers such as Oppo, OnePlus, Xiaomi and Huawei, it was always going to be hard to compete in the smartphone market.
The full press release is below where you can read the official statement and what will happen next.
It is always a sad time when the industry loses one of the once among a time big players, we wish the best of luck to any staff impacted by the closure wherever you are based around the world.
— Press Release —
LG TO CLOSE MOBILE PHONE BUSINESS WORLDWIDE
SEOUL, April 5, 2021 — LG Electronics Inc. (LG) announced that it is closing its mobile business unit. The decision was approved by its board of directors earlier today.
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.
Current LG phone inventory will continue to be available for sale. LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will 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.
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.
The wind down of the mobile phone business is expected to be completed by July 31 although inventory of some existing models may still be available after that.