LG Electronics Inc(LG) has announced that it is closing its mobile business unit worldwide.It said that it is a strategic decision.The wind down of the mobile phone business is expected to be completed by July 31 although inventory of some existing models may still be available after that,it said in a press release .
LG's strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in the growth ares such as electric vehicle components ,connected devices,smart homes robotics ,artificial intelligence and business to business solutions as well as platform services.
LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region .LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business .Details related to employment will determined at local level.
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