LG Becomes First Major Smartphone Brand to Withdraw From Market

South Korean company LG has finally closed down its smartphone business after success continuous financial losses. 

According to the latest updates, LG‘s smartphone business will be shut down by July 31, 2021. But the company mentioned that some of the existing models might be available in the market. 

LG mentioned in the press release, “Current LG phone inventory will continue to be available for sale. LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level.”

“Current LG phone inventory will continue to be available for sale. LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level.”