LG Electronics announced the closure of its mobile phone business unit. The decision was approved by its board of directors.
The decision to exit the mobile sector will allow the company to focus its resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, business-to-business solutions, and platforms and services.

Current inventory of LG phones will continue to be available for sale and LG will provide service support and software updates for customers of existing mobile products for a period that will vary by region. In addition, it will collaborate with its suppliers and business partners during the closure of the mobile phone business. Details regarding employment will be determined locally.
Looking to the future, LG will continue to leverage its experience in mobile telephony and develop mobility-related technologies, such as 6G, to help strengthen competitiveness in other business areas. The core technologies developed over two decades of operating LG's mobile business will also be maintained and applied to existing and future products. The liquidation of the mobile phone business is expected to conclude on July 31, although inventory of some existing models may remain available after that date.
LG Electronics Argentina will continue to market smartphones until the first half of 2022 inclusive, will continue to offer after-sales services to customers and update the operating system and software in accordance with applicable regulations.

The launches planned for 2021 are still standing: both the LG K61 and the LG K41S that arrive in the coming weeks to complete the new K Series and the LG K42, LG K52, LG K62 and LG K71 models that will arrive in the second half of the year.