LG Electronics withdraws from the mobile phone business Focusing on electric vehicles/IoT/B2B solutions

　South Korea LG Electronics announced on April 5 that it will close its mobile business unit by July 31. The company will gradually withdraw from the global mobile phone business.

　The company calls it a "strategic decision" to withdraw from the mobile phone business. By exiting the highly competitive mobile phone market, the company will focus on growing electric vehicle components, connected devices, smart homes, robotics, AI (artificial intelligence) and B2B (business-to-business products). It is said that the core technology cultivated in the mobile phone business will be reflected in these fields as well.

　Inventory of the company's mobile phones on sale will continue to be sold. Support, including software updates, will continue to be provided, but the end of sales and support will vary by country/region.