Sadly, we’re losing one more player in the mobile phone industry as LG just announced it will be shuttering its mobile business unit. Its decision was already approved by its board of directors earlier today.
LG plans 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.”
We were able to get our hands on an official statement from LG Canada. And here are the essential points you need to know as a consumer.
Will LG phones still be sold?
LG’s existing phone inventory will be available for sale. LG mobile phones will be available for purchase while supplies last. Check with your carrier for specific product availability. But there will no longer be new phones entering the market.
Will my phone still work?
Your current LG phone will continue to work with your service provider.
What about operating system upgrades and software updates?
According to LG, an Android 11 OS upgrade is currently under development. It also plans to release an Android 12 OS upgrade for select models. You will receive a notification on your phone if/when an update is available.
LG also intends to provide security, software, and feature updates for at least two years for select models following the device’s release.
What about service support?
According to the company, “LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region.”
What happens to the personal information stored on my device?
Personal data on your phone will remain accessible to you as your phone remains fully functional. To the extent that you store data on a cloud service by a carrier, Google, or other third-party providers, you can consult with those providers’ terms and conditions.
What are LG Electronics’ plans regarding the LG ThinQ app that monitors and controls home appliances?
The LG ThinQ app will continue to be available for download on both Google Play and iOS App Store, so you can continue to use the LG ThinQ ecosystem of intelligent products and services.
When will the wind-down of the business be completed?
LG expects the wind-down of the mobile phone business to be completed by July 31. But you might still see an inventory of some existing models available beyond that date.
We’re still waiting for additional statements from LG Philippines, so we’ll make sure to update this post for more info.
If you have any questions, make sure to let us know on social media. We’ll try to answer what we can or forward them to the company to get a response.