After months of rumors, LG has made it official: it will leave the smartphone business on July 31.
The company will liquidate its existing inventory starting today, although it may take until after July to complete. Software support will continue for current phones, but how long it will last will depend on the region. More details are expected to arrive from tomorrow, however, as it has not set the pace for the OTAs despite its efforts, we do not expect much.
LG goes on to say in its statement that it will focus on 6G wireless infrastructure and other areas where it can apply mobile-related technologies, such as electric vehicle components. You have no idea if you will decide to turn off your current projects, such as your roll-up phone.
The fate of LG’s smartphone unit has been in the air after six years of quarterly losses. According to reports, a Vietnamese company was a candidate to buy the division before negotiations were denied.
Other parts of LG’s e-portfolio, such as TVs and home appliances, remain in place.