Korean electronics conglomerate LG yesterday announced that they will be stepping back from the smartphone market and winding down their phone division, effective immediately. This means there will be no new models from LG developed or sold, which sadly means the cool rollable phone concept we saw at CEX won’t see the light of day. It’s probable that several other phones have also been cancelled in the announcement.
The change in direction is most likely the result of sustained losses from LG’s phone sales - while the smartphone division has been active for 20 years, they have reported £3.3 *billion* in losses over the last 6 years. The smartphone market is incredibly cutthroat, and competing against the likes of Apple & Samsung is a very difficult challenge.
LG note that the de-prioritization of smartphones will allow them 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.” So their eyes are turning towards future tech - electric cars and the Internet of Things - rather than consumer phones. This does not mean they will be leaving the smartphone ecosystem altogether - they are hard at work on 6G, the next evolution in cellular network technology.
The wind-down is estimated to be completed by the end of July 2021, though LG says that “some existing models may be available after that”. It’s safe to assume that means they’ll be selling off final bits of stock - which may be a good time to grab yourself a great bargain for a high-quality smartphone! So if you’re in the mood to grab an LG phone, check out Kagoo’s list of the Best LG Smartphones currently on the market. As soon as any deals or discounts appear for the decommissioned phones, you will be able to find them on our Smartphone Deals Page.