Given the obvious financial losses over five years, in addition to uncertainty in the future of what will be a sector of LG’s business, the closure of the South Korean brand’s smartphone division has been announced. Those based in Seoul said in a press release that they intend to focus on the fields of artificial intelligence, IT and business solutions.
We will not see more new LG phones
They consider that the decision is by strategy before the incredible competitive sector of the mobile telephony. LG thinks that with this move You will be able to concentrate your resources and focus them on growth areas. They intend to be included in components of electric vehicles, connected devices, smart homes, robotics, AI, platforms and services for companies, among others.
For users who still have an LG device, the company indicates that it will continue to support the user and continue to sell devices until they are sold out. The period of time will be variable in terms of the availability of software updates. The latter is because each region will have different support. They also stated that they will collaborate with suppliers and business partners in closing their business.
Contrary to the rumors, it was decided to close above a possible sale
During the past month of March, LG considered exiting the mobile industry. Several rumors indicated that they intended to sell the business entirely, although it did not end up happening. Probably, given the lack of growth and a valuable market share, Those were compelling reasons for not having a potential buyer.
Let’s not forget that LG has made important advances and at the time they were daring in terms of mobile device features. In its long journey, I remember when the first LG Chocolate (via Engadget). They were always one of the brands that wanted to be controversial with unusual mobiles. Of his latest adventures, announced the first rolling mobile of the world, who said that LG would try to continue to change the world with tremendous innovation.