NEW DELHI: It’s now virtually confirmed that LG would possibly exit the smartphone market subsequent week. The corporate has been working a internet loss for the previous six years and it’s fairly probably that LG will shut down its cellular division.
A brand new on-line report by The Korea Instances studies that LG will affirm its exit from the smartphone market early subsequent week.
Citing trade sources, the report revealed that the South Korean tech large will make the official announcement on April 5 after the board assembly.
Initially, the corporate was planning to promote the cellular enterprise to Germany’s Volkswagen AG and Vietnam’s Vingroup JSC. LG Electronics determined to close down the unit after the sale negotiations failed.
However, Tron, an trade insider, revealed that LG’s exit from the smartphone market might additionally imply that the corporate will discontinue all software program updates for current telephones.
In a collection of tweets, Tron stated that the staff of LG’s cellular division will probably be assigned to the Changwon dwelling equipment manufacturing facility subsequent week.
So, which means that for those who personal an LG Wing, Velvet or every other smartphone of the corporate, then there are probabilities that you’ll not obtain any future software program updates.
Earlier this 12 months, The Korea Herald reported that LG is planning to exit the smartphone enterprise in 2021 after dropping about $4.5 billion over the previous 5 years.
LG Electronics’ CEO stated in January that each one choices had been on the desk for the loss-making operation. The corporate was stated to have halted growth final month of telephones with a rollable show.