Earlier this week, LG Electronics announced that it will stop making smartphones by the end of July. While it’s getting out of the smartphone game, the company is reassuring customers that support for its phones won’t cease immediately.
In a press release posted Thursday, LG said it will provide customers with three iterations of Android operating system updates from the year the device was purchased.
“The three OS update guarantee applies to LG premium phones released in 2019 and later (G series, V series, VELVET, Wing) while certain 2020 models such as LG Stylo and K series will receive two OS updates,” the company stated.
Losing market share
LG’s decision to exit the mobile business was driven by a loss of market share that it experienced over the last several years. A Statista report found that the company’s smartphone shares declined from 15.4 million units in early 2015 to 11.4 million by early 2018.
If you’re wondering why LG is waiting until July to jettison its smartphone division, the answer is that it simply can’t cut ties quite yet. The company said it still has to fulfill contractual obligations with carriers and partners, so consumers will still be able to buy LG smartphones for a little while longer.