LG is closing its mobile phone business.
The wind down is expected to be completed by July 31 but stock will continue to be sold after that date.
In a statement, LG said the decision was confirmed today.
“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,” the statement said.
“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.”
Although disappointing to see LG move out of this sector, it’s a wise decision.
LG has struggled to gain market share against Apple, Samsung and rising Chinese brands in recent years.
What happened?
My favourite LG phone is the G4. It has a leather back with removable battery.
I believe LG made a big mistake by following the G4 with a modular G5. It was clunky and the accessories were all over the place.
If LG had improved on the G4 without radical changes and made refinements each year I reckon they’d be in a much better position now.
Sony has similar issues with its Xperia line.
One of the great moves that LG made was introducing an extra-wide angle lens. This was a feature I was screaming for and LG delivered.
That is the type of improvement I’m talking about. A single but significant change.
From the archives: Watch as Djuro Sen unboxes the LG G5 and accessories in 2016.
The great thing is LG makes a lot of great stuff and now they can concentrate on products and services that no only make money but reach more consumers.