LG's mobile division has reached the end of its road. After its board of directors approved the decision, the company confirmed it is exiting the smartphone business. LG will now concentrate its efforts and resources on electric vehicle components, IoT devices, smart homes, robotics, AI, and business-to-business solutions.
The current LG smartphone inventory will continue to be sold at retailers, and LG promises hardware and software support to existing customers for an unspecified period of time that will vary by region. LG's mobile division is expected to be phased out by July 31, though product inventory will most likely be available after that date.
LG will continue its R&D efforts in the field of communication networks, including 6G projects, while also focusing on improving its competitiveness in other areas. There is also confirmation that all core LG technologies developed over the last two decades will be retained and used in future LG products.