According to an official press release, LG is officially stopping making phones today, so we will not see new LG smartphones in 2021. This announcement is not going to surprise anyone in the mobile space, as there have been rumors about the move for several weeks.
It means two things. First, we do not see phones like the rumored LG V70 ThinQ, LG G10 or LG Velvet 2 as the company is closing its entire mobile business unit. We probably will not see the LG Rollable, the company teased at CES 2021 and confirmed that it will also be released in 2021. LG calls the move a “strategic decision to leave the incredibly competitive mobile phone sector.”
Second, LG says it will be free to focus resources on growth areas, referring to a whole list of sectors where their brand is better positioned: ‘components of electric vehicles, connected devices, smart homes, robotics, artificial intelligence and ‘business to’ business solutions, as well as platforms and services. “
In the statement, LG reveals that it will leverage its mobile expertise and develop mobility-related technologies like 6G, just like most people get 5G phones.
What will happen to current LG phones?
The good news is that you will be covered if you own an LG phone or want to buy one – say the LG V60 or LG Velvet. Both the current LG phone stock will be on sale in stores and online, and service support and software updates will continue for existing LG phone customers. There will just be no new LG smartphones.
LG says the abolition of its mobile business is expected to be completed on July 31, although you will probably still be able to buy an LG phone after that date.
Take a look back at 5 truly wild LG phone innovations – and why they failed. It was a business that often pushed the envelope of smartphones – better selfie cameras (LG V10), a focus on the ultra wide camera ahead of many others (LG G6) and innovative camcorder controls that others eventually copied (LG V30).
But it did not always go in the right direction to connect with customers – attempts at innovations such as modular phones (LG G5), flexible screens (LG G Flex 2), leather backs (LG G4), gimmicky motion sensors (LG G8), and dual screens (LG G8X) were warmly received.
It also never had the competitive power to offer better key prices in key regions like the US, when Samsung and Apple consistently beat it on offers. LG phones started the 2010s with very popular phones like the LG G2, but by the end its devices just could not stand out in the crowd – and experiments like the LG Wing 5G or Dual Screen on the LG G8X / LG V60 just did not do to draw in consumers like foldable phones.
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