In early April 2021, LG declared the end of its smartphone business. However, the business stated at the time that it will continue to produce phones until July in order to fulfill its obligations. The deadline for closing down the smartphone business was July 31, but LG has already halted production.
LG has reportedly changed its smartphone production plant in Vietnam into a unit that produces household electrical devices, according to a report. Other smartphone makers, on the other hand, have yet to be identified. However, the facility was shut down after the last smartphone was created, according to the report.
LG was formerly one of the most popular mobile phone businesses in the world, but it fell out of favor with Samsung and Chinese firms. BlackBerry and Nokia, for example, had to exit their smartphone businesses owing to issues before LG. Now that the two firms are back on the market, HMD has a Nokia brand license, whilst BlackBerry has a different agreement.
After Nokia, Motorola, Samsung, and Sony Ericsson, LG was the fifth largest mobile phone business when the first iPhone was released in 2007. LG's CEO began his tenure in early 2020, promising that the mobile division will be profitable by 2021. He made no mention of any aspirations in this area, but the company's innovative phones like Velvet and Wing received little notice. Since 2015, LG's mobile sector has never been profitable, and it now confronts competition from a number of Chinese firms, including Samsung.
Customers with existing LG phones will continue to receive Android operating system upgrades for another four years, and the firm will provide after-sales support for another four years from the date of manufacture.