Now that LG is finally shuttering down the smartphone business, it leaves a sour taste for many of us. Say what you will about the company, but LG did bring many revolutions in the smartphone industry, and seeing such a behemoth of a manufacturer going down is a sad thing. However, what is done is done, and there is nothing we can do. This leaves Samsung in charge of the entire South Korean tech world.
LG's departure also leaves many questions for the existing LG phone users around the world, especially because they are wondering what is going to become of their smartphones and whether there will be any software updates, or new Android versions, for that matter. Even though LG has shed light on the matter to some extent, many people are still wondering what the future holds.
LG is Finally Shutting Down, and You Should Sell Your Phone
For those wondering, LG issued an official statement earlier today; you can read it below.
Current LG phone inventory will continue to be available for sale. 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 be determined at the local level.
Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.
All of this sounds reassuring, but LG has explicitly stated that it will only be for a "period of time," and it will "vary by region." This means that LG could choose to drop the support altogether even if the phones are still legible for having software support.
Considering how the LG smartphones are officially going to be a thing of the past, many people wonder what to do with their smartphones, and honestly, selling them seems like the right idea at this point. The majority of the flagship phones can fetch a good price in the secondary market. However, it would be ideal to sell the phone as soon as possible before the value falls even more.
At this point, rather than hoping that you are going to get continued software support, it is better to sell your phone in the secondary market and recoup whatever loss you are going to incur rather than waiting for the prices to drop even further. Meanwhile, we would also advise against buying any phone that is still being sold by the company even if the current inventory is still available until stock lasts.
What do you plan on doing with your LG phone? Are you selling it, or are you going to keep it as a memoir? Let us know.