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LG leaving smartphones market, Sony to follow soon
  • The Korea Herald says that CEO Kwon Bong-seok, in a message to staffers, suggested that change was coming. A company official later told the paper that it was “about time for LG to make a cold judgment” about the ailing mobile division. Citing fierce competition in the handset market, the official that LG was looking at “sale, withdrawal and [a] downsizing of the smartphone business.”

    Sony mobile department is till in horrible condition despite that they moved their best manager to it.

    It is long rumors in the industry that Sony constantly watching how to kill their own smartphone department but is afraid of Samsung who is quickly pushing Sony out of the mobile sensors market.

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  • LG Electronics Inc. could close its mobile phone business, according to Donga Ilbo, citing a source in the electronics industry.

    According to the newspaper, the company tried to sell this business, but negotiations with potential buyers - German Volkswagen AG and Vietnamese Vingroup JSC - were unsuccessful. LG's management may share its decision on the fate of the business with employees in early April, the publication says.

    Rumors inside Sony also tell that it won't be long until Sony close their smartphones department.

    But Sony can keep having branded smartphones by offloading all real design to Chinese brands.

  • LG Electronics Inc. (LG) announced that it is closing its mobile business unit. 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.

    Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.

    The wind down of the mobile phone business is expected to be completed by July 31, although inventory of some existing models may still be available after that.

  • The last LG phones have rolled off the production line and the company will no longer manufacture handsets after Monday, according to Asia Business Daily.