LG focuses on smart homes and robots after deciding to close down the smartphone business in July 2021.
The LG brand has decided to stop making smartphones, after a long period of competition for a market share dominated by Apple, Samsung and growing Chinese manufacturers.
The Korean company said it will close its mobile business by the end of July 2021. Instead of smartphones, they will focus on smart home products as well as electric vehicle components, robotics, artificial intelligence, enterprise products and other connected devices. In particular, the field of smart home LG has a market share as one of the largest suppliers in the world.
LG’s decision to shut down the phone business reflects the difficulties many companies in the market face. Apple and Samsung have long been the only companies making significant money from smartphones, and even these companies have struggled at times.
LG strategically focuses on smart home segment
Regarding the smart home segment, last year LG introduced the ThinQ Home smart home at the IFA 2020 technology show, the largest technology exhibition in Europe.
LG said that this smart home model focuses on three main values of care, comfort and entertainment, which are essential in difficult times such as the COVID-19 pandemic.
ThinQ Home is equipped with many modern technologies such as the main door can recognize faces, door handles are disinfected with UV rays. The new model also simulates products being researched and developed by LG such as smart car roofs and OLED glass doors. The house also has a movable smart wall with voice control technology that allows a 77-inch OLED TV to appear from behind the wall if the owner wants to watch TV.
ThinQ Home has Home Concierge smart mirrors installed, allowing owners to control home apps, check energy consumption and have an intercom system connecting rooms. LG also set up a building photovoltaic system for ThinQ Home, with 998 solar panels installed on the roof and exterior of the building.