Company Lg confirmed the closure of the loss-making smartphone division. This will allow the Korean manufacturer to redirect resources to growing business areas such as communications devices, smart homes, robotics, artificial intelligence, intercommercial solutions, and platforms and services.
Smartphones already produced will remain on sale and will continue to receive support for some time.… The company did not say anything about possible reductions, noting only that the details related to the employment of personnel will be determined at the local level. LG plans to complete the closure of its mobile business by the end of July this year.
Rumors of this move have been circulating for months. In March, reports emerged that the company was trying to sell the smartphone division, but negotiations had stalled.
LG’s latest premium smartphones have been struggling to compete, while Chinese brands have completely supplanted the company in the budget segment. Over the past five years, the division brought huge financial losses to LG, but the company until the last hoped to return it to profitability.…
The news of the closure of the mobile direction means that the concept Explorer Project with a sliding display is now unlikely to ever see the light of day. The device was showcased at CES 2023 and was due to get a production model later this year.
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