South Korea-based electronics maker LG will soon stop producing new mobile phones around the world, according to a company press release early Monday.
“LG’s strategic decision to exit the incredibly competitive mobile phone industry will allow the company to focus resources on 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 company said in a statement.
The “downsizing” of mobile phone production, as the company calls it, will occur through July 31, although there may still be inventory on store shelves after that. But buy what will likely be recently discounted LG phones at your own risk. The company will stop providing software updates at some point in the future. How soon? That part has yet to be shared.
“LG will provide service support and software updates for customers of existing mobile products for a period of time that will vary by region,” the company said. “LG will work in collaboration with suppliers and business partners during the closing of the mobile phone business. Details related to employment will be determined locally. “
LG insists that it will continue to have a presence in the mobile data market, as many other products now communicate with the Internet. And if you’re excited to get 5G but with a higher number, LG will be there.
“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 preserved and applied to existing and future products, ”the company said.
LG will continue to offer many other products, including coolers, game monitors, and vacuum cleaners, among many other devices.