LG Electronics is one of the pioneers in the smartphone business. However, the South Korean electronics giant closed the business starting July 31, 2021. So what happened to the users of LG smartphones?
LG Still Provides Service for Its Users
LG Electronics management revealed that they still provide services and update software for smartphone customers in each region, as quoted by Reuters on Wednesday (04/07/2021).
On the South Korean website, LG explained about hardware and software support for old smartphone customers. The company even promised the latest Google Android 12 operating system (OS) updates for some phones.
LG promised to roll out the Android 11 update to some smartphone models. Namely the Velvet, V60 ThinQ, G7 One. Other smartphones expected to receive the Android 11 update later this year. They are the G8X, G8S, Velvet 4G, Wing, K52, and K42.
LG promises to roll out the Android 12 update for some devices. But they cautioned this plan along with Google’s distribution schedule and the performance of each device when testing updates.
If there are major problems with the Android 12 update during testing. There is a possibility that LG can cancel the release of Android 12, as quoted from XDA Developer.
If you are sending an Android 12 update, chances are that you will get the flagship smartphones. It’ll launch with Android 10 such as the Velvet, V60 ThinQ and Wing.
Reasons for LG to Close Smartphone Business
LG decided to close the smartphone business after six consecutive years of losses. The total loss was US $ 4.5 billion. With this closure, LG will focus on other growing businesses such as electric vehicle components, connected devices and smart homes.
LG is one of the earliest manufacturers to market mobile phones with a number of innovations including an ultra wide-angle camera and was the third largest smartphone manufacturer in the world in 2013 after Samsung and Apple.
But then, the flagship model suffered from software and hardware glitches which combined with slower software updates made consumers start to abandon this smartphone. Analysts also criticized the company for its lack of expertise in marketing compared to rivals from China.
Currently, the global share is only around 2%. Last year LG shipped just 23 million units, compared with Samsung, which shipped 256 million devices, according to Counterpoint.
Apart from North America, LG has a large share in Latin America, where it is ranked fifth. “In South America, Samsung and Chinese companies such as Oppo, Vivo and Xiaomi are expected to benefit in the low to mid-end segment,” said Park Sung-soon, an analyst at Cape Investment & Securities.
LG’s smartphone division, the smallest of its five divisions, which accounts for about 7% of revenue is expected to close on July 31. In South Korea, employees of the division will be transferred to other LG Electronics businesses and affiliates, while elsewhere employment decisions will be made at the local level.
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