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Now it's final: LG closes cellular division - Walla! TECH

2021-04-05T07:22:29.280Z


After $ 6 billion in losses and failed attempts to sell the cellular division, Korean giant LG has officially announced the closure of the cellular division. According to the company, it will continue to provide updates to smartphone owners, but only for a short time


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Now it's final: LG closes its cellular division

After $ 6 billion in losses and failed attempts to sell the cellular division, Korean giant LG has officially announced the closure of the cellular division.

According to the company, it will continue to provide updates to smartphone owners, but only for a short time

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Walla!

TECH

Monday, 05 April 2021, 08:20 Updated: 10:02

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The LG Wing (PR)

After billions of dollars in losses: LG announced this morning (Monday) the closure of the business unit that deals with mobile phones.

The Croatian giant explains the decision to exit the competitive cellular market, in order to focus on growing other areas such as components for electric vehicles, connected devices, smart homes, robots, artificial intelligence, B2B platforms and services.



LG's current stock of phones will continue to be available for purchase, and the company will provide support services and software updates to existing customers who own the company's cell phones for the foreseeable future, but did not specify what the definition is for "near term".

LG will work in collaboration with the company's suppliers and business partners throughout the closure process of the company's cellular unit.

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After attempts to reinvent itself, the company announces the closure of the cellular division (Photo: PR)

LG has stated that it will continue to leverage its expertise in the cellular field and will develop cellular technologies such as 6G in order to further strengthen its competitiveness in other fields.

The core technologies developed during the last two decades in which LG has operated in the cellular business will be preserved and applied to existing and future products.



The closure of the company's cellular division is expected to end on July 31, although stock of some of the existing models will continue to be available thereafter.

The company also said that it would continue to examine the possible sale of certain assets following the closure of the company's cellular operations.

The G-series managed to bring impressive results, up to the glitches in the G4 (Photo: screenshot, YouTube)

LG's announcement of closing the division is not surprising.

For the six years that the company has lost billions of dollars, it has recorded losses, year after year, amounting to $ 4.5 billion.

LG was one of the pioneers in the cellular field, and managed to reach a percentage of 5% global market share.

Despite the low figure, the company recorded achievements in the domestic market and in North America, ranking third, just behind Apple and Samsung.



LG has always had a hard time taking off in the smartphone market, despite its dominance in the Israeli market during 2014. The company experienced an image crisis that it has not yet emerged from, when malfunctions began in the G4's motherboard, which shattered the company's reputation.

In the years that followed, the company tried to make up for it and reinvent itself with the G5, the modular smartphone or the Wing, a smartphone with two screens.

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Source: walla

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