LG may exit the smartphone market soon


NEW DELHI: It is now nearly confirmed that LG would possibly exit the smartphone market subsequent week. The firm has been working a internet loss for the previous six years and it’s fairly probably that LG will shut down its cellular division.
A brand new on-line report by The Korea Times reviews that LG will affirm its exit from the smartphone market early subsequent week.
Citing business sources, the report revealed that the South Korean tech big will make the official announcement on April 5 after the board assembly.
Initially, the firm was planning to promote the cellular enterprise to Germany’s Volkswagen AG and Vietnam’s Vingroup JSC. LG Electronics determined to close down the unit after the sale negotiations failed.
On the different hand, Tron, an business insider, revealed that LG’s exit from the smartphone market may additionally imply that the firm will discontinue all software program updates for present telephones.
In a collection of tweets, Tron stated that the staff of LG’s cellular division might be assigned to the Changwon house equipment manufacturing unit subsequent week.
So, because of this if you happen to personal an LG Wing, Velvet or another smartphone of the firm, then there are probabilities that you’ll not obtain any future software program updates.
Earlier this yr, The Korea Herald reported that LG is planning to exit the smartphone enterprise in 2021 after dropping about $4.5 billion over the previous 5 years.
LG Electronics’ CEO stated in January that each one choices have been on the desk for the loss-making operation. The firm was stated to have halted growth final month of telephones with a rollable show.