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 well as platforms and services.
LG will provide service support and software updates for customers of existing mobile products for a period of time, varying 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.From the official statement of LG
It is reported that since 2015, smartphones have brought only losses to LG, and the interest of users has not been able to attract even with the experimental line of 2020. The company reportedly lost about $ 751 million last year.
In 2020, LG unveiled a semi-flagship Velvet with an original design and an experimental Wing slider with a swivel display. The plans also were a Rollable sliding smartphone tablet, but it will most likely never be released under the LG brand.
For many years LG has tried to stand out from the competition with unusual design and engineering solutions. For example, the company first used an ultra-wide-angle camera in a smartphone, which later became an industry standard, produced modular smartphones, smartphones with non-standard display aspect ratios, and until recently built a headphone jack with a high-quality DAC into its flagships.