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Officially: LG has left the smartphone market
Today, April 5, 2021, LG Electronics Inc. (LG) officially announced the closure of the mobile division: the decision, as noted, has already been approved by the board of directors.
Rumors that LG intends to leave the smartphone market have been circulating for a long time. Earlier it was said that the company was negotiating the sale of its mobile division with several potential buyers at once. Alas, the agreement was never reached. LG also failed to sell mobile business in parts.
Therefore, the company had no choice but to simply curtail the business of cellular devices. In an official statement, LG says that the closure of the corresponding division will allow focusing efforts on other areas. Among them are components for electric cars, robotics, smart home equipment, artificial intelligence systems, connected devices, as well as various related services.
It is noted that LG’s existing mobile business assets are still on offer for purchase. In doing so, LG will provide support for existing products.
LG also says it will continue to develop technologies related to mobile networks. We are talking, in particular, about communication systems of the sixth generation (6G).