LG will announce its exit from mobile business on April 5

Information has appeared on the network more than once that LG is going to exit the mobile business. Now The Korea Times has shared new details.

What is known?

According to the source, the Korean manufacturer is preparing a statement to close its mobile division. The press release is due on April 5th. That is, on Monday. After that, the company plans to focus on other products.

Workers of the mobile unit will be transferred to factories for the production of household appliances. As for software updates, they will most likely stop arriving on devices, like security patches.

Recall that LG has been negotiating the sale of the business with the Vietnamese conglomerate VinGroup and even the German automaker Volkswagen for some time, but they failed.

The company’s rich business has been in the red for about 6 years. The manufacturer tried to change this by releasing smartphones with new designs and unusual form factors, but they did not bring success.

One of the company’s recent projects was the LG Wing with a T-shaped swivel body and two screens, as well as the Rollable “stretchable” smartphone.

Source: The Korea Times


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