14 DAY TRIAL // LG has officially announced that it’s leaving the mobile market earlier this year, and now the company has reportedly stopped the production of new phones as part of this plan.
A Korean site reports that LG is now getting ready to convert its factories for other purposes. For example, the Vietnam factory that has until now been used to manufacture phones would now e in charge of building household appliances.
LG hasn’t officially announced this major step, though the company originally said that it plans to win down the mobile business by July 31.
“LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level,” the company said.
The company that could build the Apple Car
After the departure from mobile phones, LG plans to focus all its efforts on other industry sectors, including the manufacturing of electric car components.
LG is seen as one of the companies that could end up building the Apple Car as part of a joint venture with Magna, with people close to the matter previously suggesting that an official decision could be made by the summer.
“LG’s strategic decision to exit the incredibly competitive mobile phone sector 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,” the company said in its original announcement.
LG promised that all its innovations in the mobile industry would be directed to other products where they make more sense, so expect some industry sectors where the South Korean company is active to get a boost from mobile-related technologies.