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LG Officially Announces Withdrawal from the Mobile Business





“We are truly grateful for your support of LG mobile products.”

LG Electronics has released an official statement on Monday, April 5, 2021  regarding its withdrawal from the smartphone industry. The statement was released through the brand’s official website.



LG has recently made the difficult decision to close its mobile business to focus on other businesses that will provide new experiences and value for the consumers.

The decision to pull out the firm’s Mobile Communications (MC) unit, which oversees the smartphone arm of the company, came amid mounting operating losses the company has accummulated since 2015.

“LG has considered various options such as a sale, split sales, or pulling out of the smartphone business, but decided recently to pull out of the business,” according to the source quoted by the news outlet.

As per their official statement, LG mobile products will continue to be available while supplies last. LG smartphone also need not worry as product limited warranties, and software and security updates, as well as replacement parts in accordance with applicable regulations and contractual obligations, will continue to be provided.



LG Electronics’ Full Statement

We are truly grateful for your support of LG mobile products.

LG has recently made the difficult decision to close its mobile business to focus on other businesses that will provide new experiences and value for the consumers.

Our mobile products will continue to be available while supplies last, which will vary from country to country.

We will fully honor our product limited warranties, and will also continue to provide software and security updates as well as replacement parts in accordance with applicable regulations and contractual obligations.

We want to THANK YOU for your loyalty and support of LG Mobile. We hope that you will embrace our other smart technologies, as LG continues to deliver a wide range of innovative products and services that make life better.

 

SOURCE: LG-Mobile Communications, The Korea Times



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