the closure of its mobile business unit. The organization will focus on regions like electric vehicle components, artificial intelligence, connected devices, smart homes, business-to-business solutions. LG will presently make smartphones accessible in the market to dispense with its stock. Aside from this, the organization will also issue service support and software updates to customers for a period.
Will be totally shut by 31 July
LG accepts that by July 31 this year, the whole work of shutting the smartphone business should be possible. Even after July 31, some smartphones in-stock may remain available.LG has already transferred some of its employees from the phone division to the business unit. LG Electronics talked with Google, Facebook, Volkswagen, and Vietnam’s Bean Group prior to closing down the portable business, yet LG couldn’t be reached with any organization and at last,the company decided to shut down its mobile business unit.
Company had been incurring losses for 23 consecutive quarters since the second quarter of 2015.In the final quarter of a year ago, the organization had $ 4.4 billion. LG shipped a total of 6.5 million units a year ago and the worldwide portion of the organization remained at two percent in the last quarter of the year 2020 itself.