The smartphone business is one of the most competitive ones there is and only not every company is here to stay. LG has been in the business from the very start and has come up with some very exciting devices over the years. Some devices introduced features that are industry standards now while some were just fun experiments that never took off.
Reports about LG considering an exit from the smartphone space have been floating around since January and the company has finally officially confirmed that it will be exiting the smartphone business. This move comes from the fact that the smartphone division of LG has been incurring losses for several years now. There were also talks about the company selling off its smartphone division but the dealings had apparently stalled and it was decided that the division would be closed instead.
In its official statement, the company stated that this decision 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”. LG says that it expects the business to completely close by July this year.
However, the company has stated that the remaining stocks will still be on sale and some devices will receive software and security updates for three years. Also, the warranties, after-sales services and repairs and replacements will still be available to all customers.
LG was one of the biggest rivals to giants like Samsung a few years ago with some very interesting devices in its G and V series of phones. The company had experimented with various designs over the years. Its most recent was the LGWing with a swivelling display. Some other noteworthy devices were the modular LG G5, the G8 ThinQ with its Hand ID and Air motion and the G Flex with its self-healing back.
LG was one of the few companies that still did some experiments with its devices and bought new innovations. This is also what contributed to its downfall as it never really established its unique identity and while the new innovations were exciting to see, they failed to form an identity in the minds of an average consumer. Samsung in this regard has played it smartly with its S series being the ‘safe’ option for the consumer and trying its experimentations with the A series of devices, features from which would eventually make it to the other devices in a more mature form were they to prove successful in the market.
LG’sexit is still sad for the market as this is one less company competing and innovating in the market. With this news, it is also unlikely that some of its highly anticipated devices, like its rollable phone, will see the light of day.