Monday, LG revealed its decision to continue to provide updates to the Android operating system for a period of 3 years, starting from the year of the smartphone purchase. The South Korean company explained that this applies to smartphones that have been put on the market since 2019 or later, i.e. the G series, V series, Velvet phone, and Wing phone.
And early this month, the company announced its withdrawal from the mobile phone market by the end of July 2021, after years of losses amid increasing competition with larger competitors.
The South Korean technology company said in a periodic report that the company's mobile communications division will not produce and sell phones anymore, referring to the long stagnation and fierce competition in this industry, according to South Korea's Yonhap News Agency.
The decision came two months after the company announced that all possibilities are open for its future operations with regard to its mobile communications division.
LG Electronics mobile phone industry has run a deficit since the second quarter of 2015. Cumulative operating losses were 5 trillion won (4.4 billion US dollars) last year.
LG, which was once the world's third-largest handset maker, is reported to have been leased.
According to Counterpoint Research, which specializes in market research, LG was the ninth-largest smartphone seller in the world, with a market share of 2% after exporting 24.7 million smartphones last year, down 13% from the previous year.
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