LG Electronics Inc (LG) recently announced that it is closing their mobile business unit worldwide. This decision was approved by its board of directors.
This strategic decision taken by LG to exit the incredibly competitive mobile phone sector will enable them 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.
For the Singapore market, there is currently no inventory with authorised retailers. All the OS updates have been completed on the LG smartphone models that are available locally. LG Electronics (Singapore) will continue to provide service support for customers of existing LG mobile products until further notice.
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. During two decades of LG’s mobile business operations, LG has developed core technologies that will be retained and applied to existing and future products.
LG is expected to complete their wind down of the mobile phone business unit globally by 31st July 2021 although inventory of some existing models may still be available after that.
Personally, I have covered LG smartphones from LG G series and LG V series over the years, I once owned and used a LG smartphone too. The LG V series is a smartphone series that I like, for its videography and content creation features. The worldwide mobile phone market is indeed incredibly competitive with the number of different manufacturers and smartphone models available in the market, from entry level to top end. Although it’s disappointing to see LG exit the mobile phone sector, it’s a strategic business decision.
* Information courtesy of LG Electronics and Asia PR Werkz *