LG turns off its smartphones to boost its investments in the automobile of the future

Posted on Apr 5, 2021, 10:05 AMUpdated on Apr 5, 2021, 12:15 PM

Last week, LG Electronics again activated advertisements on the US market for its new “Wing” model, an original smartphone equipped with two superimposed thin screens, one of which rotates 90 °. The latter should have helped him to relaunch his brand in this segment, where he has continued to decline since he lost in 2013 his title of third producer on the planet. On Monday, the South Korean group finally announced that it was going to completely stop this mobile telephony activity launched twenty-six years ago to redirect its capital towards divisions that they consider more promising and profitable.

In a press release, the group explained that its board of directors had validated the stopping, on July 31, of the production and sale of smartphones. Stocks will continue to be sold in certain markets and after-sales service will be maintained for the current owners of the brand’s machines. The 3,700 employees of the mobile division will be transferred to other departments and the three factories of the company that still assembled phones, in Brazil, India and Vietnam, will work on other equipment.

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