After months of rumors and leaks, Korean manufacturer LG has officially announced that it is pulling out of the mobile business.
Starting today, LG will begin closing smartphone factories and transferring employees to other divisions. This process will last until July 31. The current stocks of devices are planned to be sold.
In terms of software updates, the company intends to continue to support smartphones. The timing of the release of the firmware will depend on the regions.
After the closure of the mobile business, LG will focus on 6G networks, as well as the development of smart home devices, components for electric vehicles, AI, robotics and other projects.
We will remind, information about the closure of the mobile division of LG appeared on March 22. The company originally wanted to sell it. Negotiations were conducted with the Vietnamese conglomerate VinGroup and the German automaker Volkswagen, but they failed.
The company’s latest major project was the LG Wing with a T-shaped swivel body and two screens.