South Korean manufacturer,
LG, has been struggling in the smartphone market. After a series of consecutive losses in the Chinese market, the company had to exit the extremely competitive smartphone market. At that point, it was only a matter of time before it does the same globally. Over the past few months, there have been several speculations regarding
LG's smartphone business. However, all the speculation can now be laid to rest as LG issues an official statement. Today, LG officially confirmed that it will gradually close its smartphone business. However, this will not stop the rollout of Android 11 and
Android 12 updates for some of its existing models.
According to
LG, the gradual closure will be complete by July 31st this year. However, many of its models are still in the market. These smartphones will still get the regular updates as LG smartphones do.
It is worth mentioning that in the press release, LG stated that it will "provide service support and software updates for customers of existing mobile products, and the time period will vary from region to region". In addition, LG has further elaborated on their software update plan on the company's Korean website.