LG announces closing of mobile division on April 5: reports

A few days ago, rumors started circulating around the technology and the Android community that LG would shut down and sell its mobile development division. Two weeks ago, a South Korean newspaper called Dong-A Ilbo reported that LG was planning to shut down its mobile phone division due to losses incurred over the past few years. The company’s mobile division suffered heavy losses and was unable to break even on their investment, Dong-A Ilbo reported. Now, a new report from another South Korean news site called The Korean Times reports that LG is planning to announce withdrawal from the mobile phone race on April 5, 2021. Read on for details regarding the shutdown of LG mobile phones.

Turn off LG phones

After several weeks of rumors that LG was planning to exit the mobile phone industry, the Korea Times reported that LG will announce its exit from the mobile phone market on April 5 at a press conference. LG hasn’t made any official comment on the news yet, but here is an excerpt from The Korean Times report, “LG Electronics seems to have decided to pull out of the money-losing smartphone business and has entered into a transition process to transfer its mobile telecom staff to other business units.”

LG is often known for its creativity and courage in trying new things with its smartphones. LG was the first company ever and is still the only company to offer Quad-DAC in its phones, which means that the phone can play the highest levels of audio files and support the most powerful headphones that cannot be played on other smartphones.

LG G8X Thinq was the first smartphone to offer a detachable foldable screen which has a practical application at a price several times lower than Samsung’s foldable phones. Their latest innovation is the LG Wing 5G, a stylish foldable device set to rival the Samsung Galaxy Fold series. However, even with all these innovations and features, LG mobile phones often lag behind when it comes to sales.

According to XDA Developers, LG has suffered losses for the past half decade. LG’s mobile division has been in a tailspin since 2015, and the company has continued to plow money into the failing business. According to XDA, LG started looking for potential buyers for its mobile business and was in talks with Volkswagen and Vingroup JS, but things didn’t work out. We will get confirmation about LG’s future in the mobile industry on April 5th. Stay tuned for more tech and Android news.

Image source: LG website