LG, the South Korea-based electronics manufacturer, will soon stop producing new mobile phones worldwide, according to a press release from the company early Monday.
“LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services,” the company said in a statement.
The “wind-down” of mobile phone production, as the company refers to it, will happen until July 31, though it’s possible there may still be inventory on store shelves after that. But buy what will likely be newly-discounted LG phones at your own risk. The company will stop providing software updates at some point in the future. How soon? That part hasn’t been shared quite yet.
“LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region,” the company said. “LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level.”
LG insists that it will continue to have a presence in the mobile data market, since plenty of other products now talk to the internet. And if you’re excited about getting 5G but with one number higher, LG will be there.
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“Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products,” the company said.