The South Korean giant firm LG has finally decided to shut down its smartphone business because of the financial losses.

 According to the reports, LG has decided to provide software updates to its existing users around the globe the company shared a rollout plan for Europe recently. The list of devices getting it includes LG Velvet 5G, LG G8X, LG G8S, LG Wing, and more. Among these, it has already rolled out the stable Android 11 update to V60 ThinQ, Velvet 5G devices.

LG also puts out a disclaimer that the upgrade schedule may be changed due to this policy in the future.

Earlier, the company confirmed that its 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.”