Not that we did not expect it but it’s official now. LG today confirmed that they are closing down their smartphone business globally. This “strategic” decision came after LG realised that competing in an intense smartphone market is impossible and wants to rather focus on emerging areas like electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
The wind down of the business is expected to be completed by July 31 but LG has assured that existing customers will continue to receive software support and after-sales service in the foreseeable future.
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