LG has announced that it is closing down its mobile phone business worldwide

LG has announced that it is closing down its mobile business unit worldwide. The decision was approved by its board of directors earlier Monday, 5 April 2021, as per a newsroom announcement by the company. LG says that its exit from the competitive smartphone market will help it focus its resources on other areas such as "electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services."LG expects to complete the wind down of the mobile phone business by 31 July although inventory of some existing models may still be available after that. The sale of the LG smartphones will continue till the inventory lasts.[caption id="attachment_8958891" align="alignright" width="1280"] LG Wing.[/caption]The company will provide service support and software updates for customers of existing mobile products. LG says that the period for which the customer service and software update will be available will vary as per regions. We have reached out to LG to find out the service period for LG smartphone users in India.However, LG says that it will continue to develop mobility-related technologies such as 6G.The company also says that technologies that it developed for smartphones over the past two decade "will also be retained and applied to existing and future products."