LG to quit smartphone business

LG on April 5 announced that it is quitting the smartphone business and in its statement, the company said that the decision to shut its loss-making mobile division will enable it to focus “resources in growth areas.”

The growth areas include electric vehicle components, connected devices, smart home products, robotics, artificial intelligence, and business-to-business solutions among other products and services.

The existing LG phones such as Wing, Velvet, Q-series, W-series, and K-series will continue to sell until the inventory exists and LG said that it will provide service support and software updates for customers of its existing mobile phones for a period that will vary by the customers’ location, which means that the LG phone in India may not get a software update at the same time as European customers would receive it.

LG informed that it will wind down the entire mobile phone business by July 31 but the inventory of some of the phones may still continue to be available after that. LG will be providing support and service to these phones and that wouldn’t be a closure so people who are using LG’s phones do not have to worry so much right now.