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

Toshiba Turns 95 with a Giant Fridge, Big Vibes & A Spot in the Malaysia Book of Records

Who says anniversaries are just cake and candles? For Toshiba’s 95th Anniversary Dealer Convention, it… Read More

20 hours ago

Resorts World Sentosa’s Singapore Oceanarium Introduces New Experiences As Ticket Sales Go Live

Resorts World Sentosa (RWS, 圣淘沙名胜世界) has announced that ticket sales have launched for Singapore Oceanarium… Read More

20 hours ago

Barista Brews at Prices You Won’t Believe Exist

Think handcrafted coffee always comes with a hefty price tag? Think again. Across Malaysia, cafés… Read More

20 hours ago

POCO Introduces POCO F7: Where Futuristic Design Meets Exceptional Power

POCO, a leading technology brand among young tech enthusiasts, today unveiled POCO F7, setting a… Read More

20 hours ago

Proton Owners Hit the Road for Wellness: AG Autoworld x Herbal Farmer Flag Off First-Ever Fun Drive in Johor

What do you get when you mix wellness, good vibes, and 30 Proton cars? A… Read More

21 hours ago

OMSMC Earns Spot in Newsweek’s Global Hospital Rating 2025

Oriental Melaka Straits Medical Centre (OMSMC) has been listed in Newsweek’s Global Hospital Rating 2025,… Read More

1 day ago

This website uses cookies.