After months of reports that said LG will be leaving the smartphone business, the company confirms the bad news: yes, it’s closing down LG phone manufacturing.
Fans of the LG V40 workhorse and those expecting the LG rollable phone will surely be dissapointed. Even though the LG Wing was hyped to the max, as seen in the COVID-based post apocalyptic movie Songbird, this might be the last we’ll ever see from LG.
Still, the news doesn’t come from nowhere.
In our previous report we mentioned that the LG smartphone division had about $4.5 billion in losses in the last five years, so the exit does make sense.
What happens if you own an LG phone or buy one on sale soon?
“Current LG phone inventory will continue to be available for sale.
LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business,” said the company in a press release.
With LG phones now a thing of the past, LG says it will use that expertise “in other mobility-related technologies like 6G”.
It will also focus on ” 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” so the company will be around at CES 2022, just not with the LG rollable on display!