LG shuts down its global mobile business (Update April 12)

LG shuts down its global mobile phone business. That means stopping the phone, design, manufacturing and sales to focus on growth sectors, including electric vehicles, the Internet of Things and B2Bb solutions.

LG’s strategic decision to exit the incredibly competitive mobile segment will enable the company to focus resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, business solutions, platforms and services.

Existing stock of LG phones will still be available for sale. LG will provide service support and software updates to customers of existing mobile products with its contractual obligations, manufacturer’s warranty and Australian consumer laws. LG will work cooperatively with suppliers and business partners throughout the mobile phone business shutdown period.

Going forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help boost competitiveness in other business areas. The core technologies developed during LG’s two decades of mobile business operations will be applied to current and future products.

The winding up of the mobile phone business should be completed by July 31, though some existing models may still be available after that.

Update: April 12th

LG announces a “Three Year Pledge” for OS updates

LG reassures current and future customers The following announcement to withdraw from the mobile phone industry

Seoul, April 12, 2021 LG Electronics (LG) today announced that all currently used LG premium smartphones will receive up to three versions of Android OS updates from the year of purchase.

The promise follows last week’s announcement that LG will exit the mobile phone business by the end of July. Three OS update1 Applicable to LG premium phones released in 2019 and later (G Series, V Series, VELVET2) while some 2020 models such as LG Stylo and K series will receive two OS updates.

LG will continue to manufacture phones during the second quarter to fulfill contractual obligations to carriers and partners. This means that customers can still purchase LG mobile phones that are currently in stock and service support and security software updates will continue to be provided subject to LG’s contractual obligations, manufacturer’s warranty and Australian consumer law.

GadgetGuy takes

It’s sad that LG (Australian site here) made some of the best smartphones but didn’t gain the market share it deserved for unknown reasons.

Existing owners or even buyers of existing shares will see no effect, though the used value will drop quickly.

We’ll miss the LG Velvet — it took our award as the best mid-range 5G phone of 2020.

This has no effect on TVs, Soundbars, Home Appliances, Air Conditioning, New LG Gram Laptops and more that you can buy with confidence.