It is official – LG has called it quits on its mobile phone division, shutting it down for good!
Find out what happened, and what this means to us – the consumers!
LG Mobile Shuts Down : Another Brand Bites The Dust!
On 5 March 2021, LG announced that its board of directors approved the decision to shut down its mobile business unit.
This came after rumours that LG was looking into “various options such as a sale, split sales or pulling out of the smartphone business“.
Even though LG had a strong following in the United States, in third place with 13% market share, that was not enough to turn a profit.
LG Mobile has consistently lost mobile hand over fist, even after trying all sorts of way to get consumer mindshare through devices like LG Wing, which featured a secondary display that swivelled out behind the main display.
If you can’t remember any notable LG mobile devices you have actually seen and tried out, you are not alone. This is why LG Mobile is no more.
After closing down LG Mobile, their focus will be in growth areas such as :
- electric vehicle components,
- connected devices,
- smart homes,
- artificial intelligence
- business-to-business solutions
- platforms and services
LG Mobile Shut Down : Effect On Consumers?
LG said that they will continue to sell their current inventory, but expect to complete the process of shutting down their business by 31 July 2021.
Even so, they assure customers that they will continue to provide service support and software updates of existing LG smartphones for “a period of time which will vary by region“.
So if you really love LG smartphones, you still have time and opportunity to grab one.
You may have to live with the fact that you will likely lose support and software updates after a year or so.
The loss of another brand will undoubtedly mean fewer choices, but is that really a bad thing?
Frankly speaking, there are way too many smartphone releases every year, and it’s getting really hard to differentiate them, never mind justify a yearly upgrade.
So, no one will really miss LG Mobile’s demise. And who knows? It could end up being resurrected like Nokia and Motorola!
LG Mobile Shut Down : Official Statement
Here is the official statement that LG issued on 5 March 2021 :
SEOUL, April 5, 2021 — LG Electronics Inc. (LG) announced that it is closing its mobile business unit. The decision was approved by its board of directors earlier today.
LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company 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.
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. Details related to employment will be determined at the local level.
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. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.
The wind down of the mobile phone business is expected to be completed by July 31 although inventory of some existing models may still be available after that.
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