Following months of rumors, LG has confirmed that it will no longer be involved in the business of manufacturing and selling smartphones. The company revealed the news in a press release published today, which hinted that it was losing tons of money in the competitive mobile phone sector. LG clarified that support and software updates for existing smartphone customers would continue to be available “for a period of time.”
Introducing the new #LGWING 5G—a revolutionary smartphone unlike anything else on the market. Its innovative multi-screen form factor, plus high-performance 5G connectivity and suite of content creation tools, enhances productivity and fuels every passion. https://t.co/UgzA4fPfut pic.twitter.com/MNM59AukJA— LG USA Mobile (@LGUSAMobile) September 14, 2020
Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.