LG Becomes First Major Smartphone Brand to Withdraw From Market Due to Losses

LG announced the decision to withdraw from the smartphone business just a day ago after years of recurring losses. The mobile division at LG has logged nearly six years of losses totalling $4.5 billion (Rs. 33,010 crore). Moving forward, the company looks to focus on growth areas such as electric vehicle components, connected devices, and smart homes. Already who have bought LG smartphone has no issue, they will provide software updates and services. But the availability of spare parts are rare!

LG will be rolling out Android 11 updates for eligible models and is also working on introducing Android 12 to select phones despite its exit from the smartphone business, according an FAQ page on its website. LG announced complete closure of its smartphone business on Monday, but people who own LG phones will not be left without support right away.

While the company says that it is working on bringing the next big software update for a few of its phones, their rollout will depend on Google's distribution schedule and the performance of individual models running the new software during testing. The company has not revealed which models will be getting the update. As mentioned, these upgrade plans may be adjusted keeping in mind Google's distribution schedule and the performance of the selected phones while testing the new Android 12 software.

Credits: BharaniDharan K

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