Earlier this year, Korean electronics company LG announced that it would exit the smartphone market in August 2021. The news was surprising, but not unexpected, as the company’s market share has declined over the years.
According to the Korean news agency Asiae.co.kr (h / t 9to5Google), LG may have just taken a big step towards the end of its smartphone legacy. The Asiae.co.kr Article says the company will stop producing smartphones today.
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This means that the LG phones currently unopened will be the last brand new phones that you can find. LG will likely spend the next few months selling its stocks as best they can in order to make as much profit as possible. So expect big discounts on LG devices for the rest of 2021.
If you are considering taking advantage of these anticipated deals, LG assures us that the company will continue to update its phones for three years after the original release date. That means that the two newest LG flagships – the LG V60 and the LG Velvet – should be supported by 2023.
Fortunately, many of the workers at the factory in Vietnam who made LG Phones will keep their jobs. LG reportedly switched the factory to produce household appliances.