After numerous rumours and news about the South Korean tech giant LG Electronics in the past few months, the company has come to a conclusion to shut its smartphone business for good.
The LG Electronics smartphone division struggled since Q2 2015, repeatedly reporting losses. It saw a massive loss of $751 million in 2020 alone.
There were some ongoing talks between the LG and potential buyers of the mobile division such as Google, Facebook, Volkswagen or Vietnam’s Bin Group earlier, however, none of them was able to agree on the deal with LG which left the company no other option but to bring its mobile business to an end completely.
Even during the talks and seeing the unclear future of the mobile division, LG carried on working for example on its first rollable phone, giving the public little peaks at the product, which was supposed to be introduced later this year but won’t happen due to the circumstances.
Sales to continue until stock lasts
The LG brand will continue to sell its smartphone units while the supplies last, depending on the country. LG will also continue to support the software in mobile phones and provide security updates for a period of time in accordance with regulations and its contractual obligations.
LG still to release Android 11 and 12
The LG also announced it will still roll out the Android 11 OS same as the Android 12 upgrades for some of its models.
Together with the end of the phone manufacturing, it will stop supporting some of its applications, starting with Qlens and PC Suite / LG Mirror Drive.
Users will be able to transfer LG Memo data or other memo applications using its sharing option, however, the data from LG Health will, unfortunately, be lost.
LG’s contribution to the smartphone market won’t be forgotten
LG mobiles might not belong among the most selling smartphones elite, however, it found its long-term fans over the years.
It was mainly due to its very innovative and often underappreciated approach, which will never be forgotten such as placing control buttons from the rear of its LG G2, G3 or G4 smartphones, having the very first ultra-wide-angle camera in the LG G5, LG V60 with its Dual Screen case, LG V40 with the ever first triple camera setup or unusual and very innovative LG Wing from 2020 which is also the last smartphone the company produces.
The LG has also partnered up with Google in the past years and cooperated on Google’s popular branded smartphones Nexus 4, Nexus 5, Nexus 5X or Google Pixel 2XL.
The company has said that the shut down of its mobile business will be completed by the 31st of July 2021.