Despite showing off the LG Rollable at CES 2021, the rumors have been swirling about LG calling it quits in the smartphone business. The company’s smartphone component has been posting consecutive record-breaking losses quarter after quarter, and the pain is coming to an end.
In an official statement, LG confirmed it will be exiting the smartphone market in an effort to “focus resources in growth areas such as electric vehicle components, connected devices, smart homes”, amongst other endeavors. This comes as no surprise, considering that LG lost its footing a few years ago, allowing Samsung to continue its domination.
As for the future of current LG smartphone owners, the company provided the following:
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 company will also continue to sell its most recent smartphones until the inventory has been depleted. This also means that you’ll still be able to pick up the LG Wing or even the V60, and it won’t be completely abandoned just yet. But you’ll probably want to look elsewhere as you likely won’t even be seeing security updates released.
While phones like the LG V60 have been fan-favorites, those have been reserved for a niche group looking for an audiophile smartphone thanks to the built-in DAC. LG even tried to jump in on the upper-mid-range market with phones like the LG Velvet, along with trying its hand at unique designs like the LG Wing. There was even a dual-display attempt with its past crop of LG G-series phones with the secondary display attachment.
In the end, it all proved for naught, as the company will finally put its smartphone business to rest. LG was one of the pioneers in the Android smartphone market for years. The company helped Google with its Nexus line thanks to options like the Nexus 4, 5, and 5X. The company went toe-to-toe with Samsung and Motorola, but only one giant really remains standing in Samsung.