South Korean tech giant LG announced that it’s leaving the smartphone business.
The official announcement came after an internal memo hints that it will be leaving the smartphone business. Now, the company confirmed that its mobile division is shutting down.
As per the company, this is a “strategic decision” approved by its board of directors. Owners of LG smartphones can still expect software updates for a “period of time.”
LG said that they will now focus on developing connected devices, artificial intelligence, smart homes, business-to-business (B2B) solutions, and even electric vehicle components.
But, LG will not be leaving the mobile technology market entirely. In the press release, they will continue to develop mobile-related technologies like 6G.
Existing LG phone inventory will still be available for sale. LG Mobile’s shutdown will be completed by July 31.
LG Mobile’s departure is surely a sad day for the industry. Over the years, they tried to push the envelope in smartphone designs by coming up with dual screens, sleek designs. They were also the first to put an ultra-wide camera on a phone with the LG G5, which we now see in tons of smartphones.