HomeGadgetsMobileLG confirms that it is halting smartphone producton

LG confirms that it is halting smartphone producton

Jumia Black Friday Deals

Last week, we brought you a piece of news about a circulating rumour on LG wanting to exit the phone business. Well, the company has now put the rumours to rest as it officially confirmed the exit of the smartphone market.

This decision was approved by the board of directors to allow the company to shift its time and resources to other pressing tasks on ground. Of these new directions will be AI, IoT and electronic vehicle components.

What does this mean for existing users and retailers, though?

Well, LG has confirmed that it still has some inventory too and would like to offload that. To keep the minds of users and retailers settled, the company also committed to hardware and software support for existing users and units – but they did not specify a timeframe. What they did say, though, was that the timeframe will vary by region.

As of now, the LG management hopes to complete the phasing out of the mobile division and transition into other areas before July 31. Inventory will still likely be on ground after then, but the company would not be invested in anything smartphone anymore.

Latest articles

Jeep Wagoneer S: First Global Battery Electric Vehicle (BEV) from Jeep

Jeep has provided more information about its all new, all electric 2024 Wagoneer S....

Insoft unveils Assabil and weSign for Sales Force Automation and Streamlining Digital Workflow

At the GITEX Africa 2024 technology event Groupement Insoft-Saphir Systems, a leading provider of...

Top 10 Highest-Paying Careers Without a College Degree

A college degree is often touted as the key to success, but it's refreshing...

Top 20 Countries with the Least Expensive Freelancers

A study, conducted by invoicing software company Bookipi has unveiled the countries with the...

Will ChatGPT Take My Job? Expert Reveals The Five Professions At Risk

The more capable AI becomes, the more you might begin to worry about a...

Best Valentine’s Day Gifts Ideas

Looking for a great Valentine's Day gift for your loved one? You are in...

Best Web Hosting Services for Small Business in 2024

The online presence of your business is as vital as any physical storefront or...

More like this

8 Reasons to Buy the Oppo Reno 11 5G

Are you in the market for a new smartphone? Look no further than the...

10 Key Features of the Tecno Spark 20 Pro Plus

Tecno has introduced the top of the line member of its latest Spark Series....

Umidigi Deals on AliExpress 828 Mega Brands Sale

AliExpress 828 Mega Brands Sale of the year is now live. From August 21...