In an April 5 press release, South Korean tech company LG announced its decision to “exit the incredibly competitive mobile phone sector” and close the division worldwide. The company says that the move, which comes after a failed attempt to sell the phone business, is a “strategic decision” that will allow it to instead “focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions.” And for more phones going away, check out Apple Has Discontinued This Popular Phone. Fans of the brand still have a chance to score their last device from the company. LG announced that its current phone inventory would continue to be available for sale, as will service support and software updates for existing customers. However, the division is slated to be fully wound down by July 31, 2021. And for more on the best ways to take care of your tech, check out If You’re Charging Your iPhone Like This, Apple Says Stop Immediately. While LG now blames intense competition for its decision to bow out of the phone market, it wasn’t so long ago that it was a major player. According to Strategy Analytics, the company was within the top three of the world’s smartphone makers as recently as 2013, CNN reports.ae0fcc31ae342fd3a1346ebb1f342fcb But despite still being the third most popular brand in North America, it was no longer even in the top seven worldwide as of 2020, having dropped to just two percent of the global market share at the hands of surging Chinese competitors Oppo and Xiaomi, Counterpoint Research told CNN Business. And for more tech news sent right to your inbox, sign up for our daily newsletter. LG’s decision to shutter its mobile division didn’t go unnoticed, with fans of the once pioneering phones showing appreciation for the gadgets on social media. But the brand, which still generated headlines as recently as three months ago when it unveiled a new rollable phone that could be turned into a tablet, announced that it wouldn’t be completely leaving mobile behind. “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,” a company spokesperson said. And for more tech news you should be on top of, check out If You See This Message on Your Roku, Report It Immediately, Experts Say.
