LG Electronics is closing its mobile business unit to focus on what the South Korean electronics company said was more growth drivers. This includes electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
In a press statement LG announced its phone inventory will continue to be available for sale and the company will provide service support and software updates for customers of existing mobile products in accordance with its contractual obligations, manufacturer’s warranty and Australian consumer laws. LG said it will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at a local level.
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. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.
The wind down of the mobile phone business is expected to be completed by July 31, although inventory of some existing models may still be available after that.