LG Mobile Phones Photo: AndroidHeadlines

Korean firm LG discontinues mobile phone business

*LG says the decision to exit the competitive mobile phone industry of the economy will enable the company to focus resources in growth areas, such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, others

Isola Moses | ConsumerConnect

Sequel to the need to focus resources on growth areas, including electric vehicle (EV) components, connected devices, smart homes, robotics and artificial intelligence (AI) among others services, LG has revealed that the wind-down of the mobile phone business is expected to be completed by July 31, 2021.

However, the company in a statement Monday, April 5 disclosed that inventory of some existing phone models may still be available after that.

The South Korean electronics firm said the decision was approved by its Board of Directors earlier Monday.

LG stated that the decision to it quits in 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.

The firm 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.

The statement said: “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.”

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