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That’s a Wrap: LG announces the closure of its smartphone business

Sources that talked about LG’s imminent departure from the mobile market were right, despite the fact that the Korean company denied these rumors to the last. But now LG has officially announced its decision to shut down its mobile division.

On Monday, April 5, LG confirmed that it is ditching the smartphone business. This strategic decision, according to LG officials, was approved by the company’s board of directors.

LG said in an official statement that the phasing out of smartphones will allow the company to focus on other areas, in particular, it will be able to pay more attention to the development of smart home devices, robotics, IoT devices, AI solutions for business, as well as components for electric vehicles and various services. … Although the Korean giant will no longer make new smartphones, it is still possible to purchase previously released models until retailers run out of stock. LG plans to finally wind down its mobile business and end its relationships with suppliers and business partners by July 31. And the company plans to use the existing experience and the technologies of the mobile division gained over the years in its other endeavors.

As for the already released smartphones, LG assures users that it will continue to provide them with support and release software updates for a certain period of time. How long users can expect to receive updates for their devices will depend on the region. Interestingly, a month ago the German office of LG announced that it will release Android 11 for smartphones such as LG Velvet 4G, Velvet 5G, G8X, G8S, Wing, K52 and K42 and I want to believe that the company will keep its promise.

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