Officially: LG has left the smartphone market

Today, April 5, 2021, LG Electronics Inc. (LG) has officially announced the mobile division’s closure: the decision, as noted, has already been approved by the board of directors.

Rumors that LG intends to leave the smartphone market have been circulating for a long time. Earlier, the company was negotiating the sale of its mobile division with several potential buyers at once. Alas, it was not possible to agree. LG also failed to sell the mobile business in parts.

Therefore, the company had no choice but to curtail the business of cellular devices. In an official statement, LG says that the respective division’s closure will allow focusing efforts in other areas. Among them are components for electric cars, robotics, smart home equipment, artificial intelligence systems, connected devices, and various related services.

It is noted that LG’s existing mobile assets are still being offered for purchase. In doing so, LG will provide support for existing products.

LG also says it will continue to develop technologies related to mobile networks. We are talking, in particular, about the communication systems of the sixth generation (6G).