LG is officially getting out of the Smartphone Business Worldwide

LG Electronics Inc. (LG) has confirmed that they are getting out of the smartphone business after the decision was finally approved by its board of directors.

The company will now shift its focus and resources in growth areas such as:

  • Electric vehicle components,
  • Connected devices,
  • Smart homes,
  • Robotics,
  • Artificial Intelligence,
  • Business-to-Business solutions, as well as platforms and services.

The currently available LG smartphone inventory will still be sold at retailers and LG promises both hardware and software support to existing customers.

The process of phasing out LG’s mobile division is expected to be completed by July 31 although product inventory will likely be available after that date.

LG is officially getting out of the Smartphone Business Worldwide
LG is officially getting out of the Smartphone Business Worldwide

LG will continue its R&D efforts in the field of communication networks including its projects on 6G and will focus on strengthening its competitiveness in other fields.

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Core technologies developed in past two decades of LG’s mobile business operations will also be retained and applied to existing and future products.

What happens to Software Updates of LG Smartphone

LG customers will be happy to know that the company has said it will continue to update these devices in recently released smartphones.

The company said in a press release that phones will continue to receive software updates, which will depend on the region.

This includes the Android 11 update, which the company is still in the process of preparing for release, according to company’s Korean website as spotted by XDA.

LG also says that it will provide Android 12 updates to a few of its smartphones, but that does not necessarily mean that these updates will come on time.

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The company has said that these Android 12 plans might change based on Google’s distribution schedule and the performance of each device.

The company seems to be focusing on rolling out the Android 11 update for its devices for now, with LG G7 One being latest device to receive the update.

It is worth noting that so far the only other devices to receive Android 11 are the LG Velvet and the LG V60 Thinq.

2 thoughts on “LG is officially getting out of the Smartphone Business Worldwide”

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