5, 2021 – LG Electronics Inc. announced that it is closing its mobile business unit. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. 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.
The reports out of its native Korea were correct, LG is shutting down its mobile business. For now, LG said that its current phone inventory remains available for sale, and that existing devices will continue to receive after-sale support and software updates “For a period of time which will vary by region.” The company expects to complete the winding down of its mobile business by the end of July, though it notes that some LG phones may continue to be sold after that date. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business.
SEOUL, South Korea, April 5, 2021 – LG Electronics Inc. announced that it is closing its mobile business unit. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. LG is a world-leading producer of TVs, refrigerators, air conditioners, washing machines and mobile devices, including premium LG SIGNATURE and LG ThinQ products featuring artificial intelligence.
is lg company closed Related Question:
Did LG go out of business?
Once a major manufacturer of Android smartphones, LG disappointed fans when it announced it would exit the smartphone business, effective July 31, 2021.
Is LG going to stop making phones?
LG surprised a lot of people by announcing the termination of their smartphone business on April 5, 2021. Instead, the company wants a chance to focus on other lines of business that offer them more growth opportunities. These include smart appliances, connected devices, and even robotics.
Will LG come back?
On April 5th, 2021, LG announced that it was quitting the “incredibly competitive mobile phone sector”, which essentially means no new LG-branded phones will be coming out anymore, although the company is still developing components such as displays for other phone makers.
Why is LG closing down?
Topline. South Korean electronics giant LG is exiting the smartphone business after years of losses to focus on other growing businesses the company announced on Monday, a decision that will leave a sizeable gap in the American smartphone market where LG is the third biggest brand after Apple and Samsung.
Why LG is leaving the phone business?
“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,” the
Will my LG phone still work in 2022?
Yes, your current LG phone will continue to work with your service provider.
What does LG stand for?
In 1995, the inexpensive, poor quality, Korean appliance and home electronics brand, Lucky Goldstar, became LG with the slogan, Life’s Good.
Is LG better than Samsung?
If you’re budget-minded, favor OLED screen technology, and want a slightly more capable Smart platform overall, LG TVs are the right option. In contrast, if you’re looking to buy a TV with a stronger brand behind it, want features like HDR 10+, and prefer QLED displays, Samsung is the better choice for you.
Can I still buy LG phones?
LG has shut down its smartphone division at the end of July 2021. That means we won’t see any more new LG phones.
What happened LG mobile?
LG has confirmed it is closing down its mobile phone business. The company’s mobile phone unit has been a loss-making affair for about six years. LG said it will continue to sell existing phones until their inventory runs out.
Why did LG phone fail?
The average consumer wants a smartphone that makes their life easier and functions well. Apple and Samsung realized this, which is why they took the company’s best innovations and worked on improving those. Speaking of those two, another reason behind LG’s failure is that it simply wasn’t memorable enough to users.
Is LG mobile dead?
LG’s smartphone dream is dead — the company officially left the Android market earlier this year, after years of steep financial losses. While we were sad to bid adieu to one of the biggest Android OEMs, the company sadly failed to make its phones appeal to buyers, even after multiple strategy changes.
Are 4G phones going to stop working?
T-Mobile has listed the dates for shutting down Sprint’s 3G and 4G LTE networks, and migrating people to modern broadband speed pastures. These are January 1, 2022 for Sprint’s 3G network sunset, and June 30, 2022 for the 4G LTE connections, respectively.
Is LG part of Samsung?
LG and Samsung are large-scale electronics manufacturers headquartered in South Korea. Televisions are a core part of both their businesses, and both brands have built up solid reputations in the UK, US and beyond. In North America, for example, LG and Samsung grew their combined TV market share to over 60% in 2019.
Who is LG owned by?
LG Electronics is a core company of South Korean conglomerate LG group, alongside LG Chem. Founded in 1958, LG Electronics has led the country’s electronics industry since its early days as the first producer of radios, TVs and other appliances. Now, it is the second-largest electronics maker after Samsung Electronics.