LG officially announced its withdrawal from the mobile market in early April, but it took the company a while to finally shut down its mobile business. And now, almost two months later, LG has completely stopped production of its smartphones and tablets.
According to Korean media reports, today, May 31, has finally curtailed the release of mobile devices. Now the LG Electronics plant in Vietnam, where most of the brand’s smartphones were assembled, will produce home appliances. LG has already converted part of its production facilities for the production of household appliances. By the end of July, all workers engaged in assembling smartphones and tablets will move to the new production.
The decision to repurpose a smartphone factory into a home appliance business seems reasonable. Indeed, unlike the mobile market, where LG has been an outsider in recent years, the Korean company is one of the leading manufacturers in the home appliance market. In the last quarter, this direction brought the company $ 6.3 billion. LG has already overtaken its main competitor Whirlpool and, as analysts predict, will remain the segment leader at least until the end of this year.
And in parting, LG’s mobile division has released a limited edition Velvet 2 Pro Rollable smartphone. Farewell 3 thousand copies are intended for the company’s employees, who can purchase a smartphone for about $170.