LG to shutdown mobile devices business

Korean electronics manufacturer LG formally announced last week that it would be shutting down LG mobile, the mobile devices division of its business.

An official statement posted on the official LG Newsroom notes that its “strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-tobusiness solutions, as well as platforms and services.”

One of the earliest adopters of the Android mobile operating system, the brand earned a reputation for developing “budget friendly” smartphones that are integrated with robust functions and features. In 2013, it ranked as the third largest smartphone maker following after Samsung and Apple.

LG’s mobile devices division is the smallest of its key five divisions and it reportedly accounts for 7 percent of its total revenue.

The brand will still provide service support and software updates for existing users/customers of their mobile devices, but only for a period of time, which may vary based on region. The firm notes that the wind-down of LG mobile will be completed by July 31 this year.