LG Electronics, Board of Directors on the 5th
Mobile business withdrawal decision
“Continuing existing user post service”
LG smartphone’Velvet’
LG Electronics withdrew from the mobile phone business after 26 years. LG Electronics officially announced through a press release that it has decided to end production and sales of the mobile (MC) division in charge of the mobile phone business by holding a board of directors at its headquarters in Yeouido, Seoul on the morning of the 5th.
An official from LG Electronics said, “We decided to end the mobile phone business as of July 31,” and said, “Amid the recent solidification of the Yanggang system in the premium mobile phone market and major competitors focusing on the entry-level mobile phone market, price competition intensifies. The former has not been able to achieve results due to inadequate response,” he revealed the background of the withdrawal.
As LG Electronics decided to end its mobile business, existing LG phone users are raising concerns about troubleshooting services, software updates, and support for used phone compensation programs.
LG Electronics announced on the day that it plans to continue to provide sufficient after-sales service to avoid inconvenience to purchasers and existing users even after the mobile phone business is terminated. In addition, it has decided to produce mobile phones by the end of May so that it can supply the products promised to customers such as telecommunications companies. However, it has decided not to produce the rollable smartphone that was announced earlier.
An official from LG Electronics said, “We will continue to discuss to reasonably compensate for the loss of business partners and partners due to the end of the business.”
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