After months of rumors, LG has made it official: it will leave the smartphone industry on July 31st.
The company will liquidate its existing stock from today, although it may take until after July to complete. Software support will continue for current devices, but how long it will take depends on the region. More details are expected from tomorrow, but as the OTAs have not set the pace, despite efforts, we do not expect much.
LG further states in its statement that it will focus on 6G wireless infrastructure and other areas where they can apply mobile related technologies like spare parts for electric vehicles. No idea if he decides to choose his current projects, such as the rotary phone.
The fate of LG’s smartphone unit is up in the air after six years of quarterly losses. A Vietnamese company was reportedly a candidate to buy the division before the negotiations broke down.
Other parts of LG’s electronics portfolio, such as TVs and home appliances, remain in place.
