NEW DELHI: It is now nearly confirmed that LG would possibly exit the smartphone market subsequent week. The firm has been working a internet loss for the previous six years and it’s fairly doubtless that LG will shut down its cell division.
A brand new on-line report by The Korea Times experiences that LG will affirm its exit from the smartphone market early subsequent week.
Citing trade sources, the report revealed that the South Korean tech large will make the official announcement on April 5 after the board assembly.
Initially, the corporate was planning to promote the cell enterprise to Germany’s Volkswagen AG and Vietnam’s Vingroup JSC. LG Electronics determined to close down the unit after the sale negotiations failed.
On the opposite hand, Tron, an trade insider, revealed that LG’s exit from the smartphone market might additionally imply that the corporate will discontinue all software program updates for current telephones.
In a collection of tweets, Tron mentioned that the workers of LG’s cell division can be assigned to the Changwon dwelling equipment manufacturing unit subsequent week.
So, which means that if you happen to personal an LG Wing, Velvet or every other smartphone of the corporate, then there are probabilities that you’ll not obtain any future software program updates.
Earlier this yr, The Korea Herald reported that LG is planning to exit the smartphone enterprise in 2021 after dropping about $4.5 billion over the previous 5 years.
LG Electronics’ CEO mentioned in January that each one choices have been on the desk for the loss-making operation. The firm was mentioned to have halted improvement final month of telephones with a rollable show.