In the last five years, LG Electronics has incurred a loss of $ 4.5 billion and now the company is going to shut down its smartphone business.
LG is a Korean electronic company with the slogan “Life is good”. So you can see a smiling face on the LG logo.
If you have an LG smartphone then it is bad news for you because the company may soon stop providing software support in their phones. In such a situation, you may have to change your phone if you do not get software support and security updates.
Earlier this month, a report had revealed that LG may soon be going out of the smartphone market. First the company is planning to sell its mobile phone business to Volkswagen AG of Germany and Vingroup JSC of Vietnam. However, Bloomberg and Korean Publications DongA IIbo later reported that LG Electronics was planning to close the business due to failed sales negotiations.
Software update may be completely shut down
Now the company is also going to stop giving software support to existing LG smartphones. According to industry insider Tron, LG’s exit from the smartphone market also means that the company will also stop giving existing phone software updates. In a tweet from Tron, it has also been told that the employees of LG Mobile Division will be sent to the Changwon Home Appliances Factory by next week. This means that if you have LG Wing, Velvet or any other smartphone of the company, then it is possible that you will not get any software update in future.
LG Update:
Remaining employees in the LG MC division will be assigned to the Changwon home appliance factory next week
This is the procedure of dismantling the entire 4,000 employees of the LG phone division.
Rollable was an unfinished model used to increase the … (1/3) https://t.co/xoQdt7iFL5– Tron (@FrontTron) March 29, 2021
Loss of $ 4.5 billion in five years
Earlier this year, the Korea Herald reported that LG Electronics is planning to exit the smartphone business in 2021 after suffering a loss of $ 4.5 billion in the last five years. It was also reported in this report that the company will give its final decision in April. According to the report, the company is planning to send its mobile division employees to household appliances and automotive division.
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