Listen Live

LG, which was once at the forefront of smartphone technology, is now getting out of the business.

>> Read more trending news

The South Korean company announced Monday that it will be ending its foray into the “incredibly competitive” smartphone manufacturing business by the end of July, CNN reported.

Despite the announcement, some devices may still be available after July 31.

The move will allow LG to focus on “electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions,” the company said in a statement.

The announcement should not come as a surprise as the company said in January that it was looking to restructure some divisions.

Three months ago, however, LG announced a phone that could transform into a tablet was scheduled to be released later this year.

LG told CNN that the phone’s release will not happen.

The company said in a statement that it will provide support and software updates for existing products but the timing for how long the support will be available will vary by region.