LG Says It Is Quitting Smartphone Business

SEOUL, April 5 – The South Korean LG Electronics Inc. says it is halting production of its smartphones in order to focus on other areas, such as electric cars, the company said in a statement, reported Sputnik.

“The decision was approved by its board of directors earlier today,” the Monday statement says, adding that “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 company specified that the current LG phone inventory will continue to be available for sale, but the mobile phone business is expected to fully wind down by July 31.

“LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level,” the company said.

Source: BERNAMA

Adib Mohd

Recent Posts

From Cookies to Classrooms: Starbucks Raises Over RM100K to Revive Centre for the Deaf

What if your sweet tooth could change lives? Since 2018, Starbucks Malaysia has raised over… Read More

2 days ago

Tous les Jours Expands in Malaysia with New Outlets at Sunway Pyramid and Sunway Velocity

Malaysian fans of delectable K-inspired baked goods will be delighted to hear that Tous Les… Read More

2 days ago

Stitch Lands in KL, Disney’s Blue Menace Takes Over Pavilion This School Holiday

Get ready for a school holiday filled with tropical vibes as Pavilion Kuala Lumpur transforms… Read More

2 days ago

Malaysia Gears Up for Southeast Asia’s First Smart City Expo, Here’s Why You Should Care

Kuala Lumpur just flipped the switch on something big. The 100-day countdown to Smart City… Read More

2 days ago

Ejen Ali: The Movie Review, A Next-Level Win for Malaysian Animation

Ejen Ali: The Movie 2 isn’t just a sequel, it’s a bold upgrade that proves… Read More

2 days ago

When Creativity Meets Comfort: LEGO® and IKEA Malaysia Reimagine Home Decor

When Creativity Meets Comfort: LEGO® and IKEA Malaysia Reimagine Home Decor With its latest collection… Read More

4 days ago

This website uses cookies.