LG Electronics announced that it will not continue the manufacture and sale of solar panels. The main reasons, as reported by the company, are the intensification of price competition and the increase in the cost of raw materials. Solar panel production itself will continue through the second quarter of this year to maintain adequate inventory for future service support.

Despite this, LG will continue to support its brand and maintain support for customers of existing LG solar panels for some time, once the business closure has been completed.

LG's Business Solutions (BS) company, which operates the solar panel business, will reorganize its portfolio around the key pillars: Information Technology (IT) and Information Display (ID), with the aim of accelerating growth with its various lines of advanced products and personalized services.

In the future, LG will leverage its accumulated experience in the area of ​​renewable energy and focus on growth sectors within a new era of sustainability through rapidly evolving products and solutions, such as the Energy Storage System (ESS), among other advances in the field.