RIP: LG Quits The Smartphone Business

Yesterday LG announced that it would shut down its smartphone business after years of losses, marking the end of an era for the South Korean tech giant. The division is expected to close on July 31st, but the company may continue to sell some of its existing models after that, according to LG Electronics.

The “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-to-business solutions,” the company said in a statement.

LG added that it’ll continue to support its products “for a period of time which will vary by region.”

The news doesn’t come as much of a surprise to many, LG’s mobile division has had 23 consecutive money-losing quarters, and its last profitable year was in 2014.

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RIP to “innovation” like the LG Wing:

ONTD, did you own an LG smartphone at some point?

Sources: 1 | 2