LG is to close mobile phone global business. That means ceasing phone, design, manufacturing, and sales to focus on growth sectors, including Electric vehicles, IoT and B2Bb solutions
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, 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 with its contractual obligations, manufacturer’s warranty and Australian consumer laws. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business.
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 be applied to existing and future products.
The mobile phone business’s wind-down should be complete by 31 July, although some existing models may still be available after that.
It is sad as LG (Australian website here) made some of the better smartphones but never gained the market share it deserved for reasons unknown.
Present owners or even purchasers of current stock will see no impact, although the second-hand value will diminish quickly.
We will miss the LG Velvet – it took our award as the best mid-range 5G phone of 2020.
This has no impact on its TVs’, soundbars, home appliances, air-conditioning, new LG Gram laptops and more that you can buy with confidence.