LG confirms it will stop producing smartphones. The company continues to provide current phones with support and software updates. LG does not completely leave the smartphone world and says it wants to develop 6G technologies, for example.
The company’s smartphones will remain for sale while supplies last, the South Korean company writes . It is not clear how long it will provide phones with physical support and updates.
The company says this will vary by region. It is also not clear whether it will only give smartphones security updates or Android upgrades.
They expects to be able to complete the closure of the smartphone branch by July 31. It is expected that ‘a few models’ will still be for sale at that time.
It is not known how many people will have to be fired as a result of the closure. The company will continue to develop ‘mobility-related technologies such as 6G‘.
CEO Kwon Bong-Seok told LG staff earlier this year that the company was considering quitting the smartphone business. The division has been making losses for years, in 2020 this amounted to $ 751 million.
LG says by exiting the ‘incredibly competitive smartphone market’ it can focus on growth markets such as EV components, connected devices, smart homes, robotics and artificial intelligence.