LG Officially Withdraws From Smartphone Market

As a consumer, you certainly have plenty of manufacturers and models to choose from when it comes to smartphone devices. If anything, there is potentially more than the market really requires, and, for the vast majority of them, grabbing a slice of the Apple-dominated pie certainly hasn’t been an easy task. Therefore, with this in mind, following an official statement, LG has effectively admitted defeat by confirming that they are officially withdrawing from the smartphone sector.

LG to Stop Making Smartphones

In making the announcement, LG has said:

“The decision was approved by its board of directors earlier today. LG’s 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, as well as platforms and services.

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.

The decision was approved by its board of directors earlier today. LG’s 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, as well as platforms and services.

What Do We Think?

Although LG smartphones were more than a little decent, it’s hard to deny that the brand didn’t make much of an impact on the overall market share. I mean, can you honestly say you even know someone who owns an LG smartphone? I know I can’t! – As such, while it’s always difficult effectively holding up your hands and admitting that things just aren’t working out, overall, this decision almost certainly makes sense!

With manufacturing expected to end worldwide on July 31st, however, the chances are that some of their best models might soon be available at a pretty healthy discount. So if you are in the market for a relatively inexpensive upgrade, this could well be worth keeping an eye on! – As such, for more information on their current range of smartphones, you can check out their official website via the link here!

What do you think? What smartphone do you current use?- Let us know in the comments!