We’ve known for a while now that LG is closing down its smartphone business sector. The company made the announcement back in April of this year, much to everyone’s chagrin. Although there had been rumours circulating about its departure, they were shut down by LG, and we were still hoping to see the much-anticipated LG Rollable phone on the market this spring. But it was not to be.
[At the end of May], the delivery of the contracted quantities with the telecommunication companies [is] completed, and production will end as scheduled. —LG Electronics
The shutdown of the whole smartphone business is expected to be fully complete by July 31st, according to LG reports.
The Vietnam factory that housed it—a central facility in LG’s multisectoral business—will be staying under the same company name. However, production lines will be accommodating home appliance production from that date onwards (and former smartphone production employees will not lose their jobs, and continue working there).
