LG Electronics has announced that it is closing its mobile phone unit.

The company released a statement explaining it was exiting the mobile phone sector to focus on building electric vehicle components, connected devices, smart homes and robotics.

LG will provide service support and software updates for customers of existing mobile products for a period of time, it said in its statement.

The wind down of the mobile phone business is expected to be completed by 31 July although inventory of some existing models may still be available after that.

Do you own an LG smartphone? Are you worried about how long the company will continue to offer service support and software updates?