By 30 June 2022 LG will definitively exit the photovoltaic panels business, with the aim of committing its energies in different areas of the brand.
LG will no longer produce photovoltaic panels
On the evening of Tuesday 22 February the LG Electronics Board of Directors has decided to close the photovoltaic panel business. In an official press release, the brand makes it known that the reasons for this decision are to be found inintensification of price competition and inincreased costs of raw materials. However, the company reassured users by providing support for existing customers and partners. The customer care service will continue, for a certain period, even after the definitive exit of the company from the sector, scheduled for June 30, 2022.
The company’s intention is to focus on other rapidly growing areas, to make advanced and tailor-made products. With this in mind the internal divisions previously used for the construction of solar panels will be reorganized. LG also makes it known that the experience gained in the renewable energy sector it will also be useful for future projects. In particular, he made it known that an eco-sustainable approach will be the key to the creation of the brand’s new products and services.