LG Electronics it was faced with rumors that it would terminate mobile device production for a while. worldwide smart phone The company, which came to the agenda with the rumors that it will withdraw from the market, finally made a statement on the issue. It turned out that the allegations circulated by word of mouth were completely true.
Confirming the exit from the smartphone market LGshared the details of the decision with their fans in the press release. Wanting to spend the company’s resources on more profitable businesses such as electric vehicle components, smart homes, robotics, and artificial intelligence, the company said it will change its focus.
Sales will continue until stocks are over
If you currently have an existing LG phone, you don’t need to worry for a while longer. Because the company will continue to provide software updates to its devices, varying from region to region. Phones that have already been released and are waiting in stores will remain on the shelves until they are out of stock. Subsequently, these devices will disappear completely.
LG Velvet, LG Wing, LG Rollable and LG Rainbow It is not known what will happen with the canceled smart phone with such stylish design. Of course, the company will not launch these products itself, as it will close its mobile device manufacturing department. However, it is a matter of curiosity whether patents and designs will be transferred to another company.
LG ends phone production by July 31
It was already a known fact that LG stopped production of phones. But to everyone’s surprise, the company was going to completely shut down this department. Since 2016 approx 4.5 billion dollars The estimated lost company was in financial difficulties. According to the reports, at the end of 2020, the company for smartphones global market share Only 1.91 percent was.
Struggling to compete with its rivals in the smartphone market LG He could not overcome a number of problems before him. The company, which inevitably set out to bid farewell to the market, is now waiting for its stocks to melt. Most probably Until 31 July The company will be withdrawn from the mobile industry all over the world.
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