Today, LG’s focus is on strengthening those businesses where growth comes from. These include electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business. The company’s mobile business is expected to be fully closed by July 31.
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A Bloomberg report last month said that LG may soon close its mobile phone business rather than sell it. The company was reportedly in talks with Vietnam’s Vangroup JSC and German auto giant Volkswagen AG to further expand sales of the mobile phone division.
But apparently the sale of LG Mobiles did not materialize due to undeclared issues. It is believed that in recent months the development of LG smartphones that were already part of the company’s plan has also stalled. Until recently, Nokia and Blackberry were among the early movers in the mobile phone space, but Samsung and LG were also notable drivers of the market.
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Existing customers will get a software update
As of today, BlackBerry is discontinued, Nokia sells smartphones under parent company HMD Global, but has failed to regain the market share it had in the pre-smartphone era and now so does LG. The story is ready to be made. The company said that LG will provide service support and software updates for existing mobile product customers over time, which will vary by region.
Tags: LG, mobile phone, Technology news
PUBLISHED FOR THE FIRST TIME : April 05, 2021, 11:37 IST