LG promises three years of Android OS updates after quitting smartphone business

After six years during it lost no less than $4.5 billion, the South Korean company decided to call it quits and focus resources in other areas like vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services.
Today, LG returned with more clarifications on the matter. In a press release published today, LG promises that all its premium smartphones currently in use will receive up to three iterations of Android OS updates from the year of purchase.
Also, even though LG announced that it will be exiting the mobile business by the end of July, it will continue to manufacture phones through the second quarter to meet contractual obligations to carriers and partners.