As many of you probably know by now, LG has decided to exit the smartphone business due to it being “incredibly competitive.” Just like Sony and HTC, LG sank a lot of money in the phone business and the returns were quite minimal.
After six years during it lost no less than $4.5 billion, the South Korean company decided to call it quits and focus resources in other areas like vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
Now, as far as what happens with all the LG smartphones that many people are still using, the South Korean giant was quite vague last week when the official announcement went live. While LG did say that it will provide support and software updates for those still using its phones, it didn’t provide any timelines.
Today, LG returned with more clarifications on the matter. In a press release published today, LG promises that all its premium smartphones currently in use will receive up to three iterations of Android OS updates from the year of purchase.
It’s important to mention that the three Android OS update guarantee only applies to LG premium phones released in 2019 and later, such as the G series, V series, Velvet, and Wing. However, 2020 models such as LG Stylo and K series will still receive major Android OS updates, it’s just that the number of updates will be limited to two instead of three.
Also, even though LG announced that it will be exiting the mobile business by the end of July, it will continue to manufacture phones through the second quarter to meet contractual obligations to carriers and partners.