LG announced that it will cease the manufacturing of phones by the end of July this year. As Gizmodo reported, LG has committed to supporting phones for three years. LG stated, “LG Electronics (LG) announced today that all premium LG smartphones currently in use will receive up to three iterations of Android operating system updates from the year of purchase. The three OS update guarantee applies to LG premium phones released in 2019 and later (G series, V series, VELVET, Wing) while certain 2020 models such as LG Stylo and K series will receive two OS updates.”
Because of contractual obligations, LG will continue to make phones through the second quarter. If you commit to a purchase of a new LG phone, consider it a throw-away device within three years. That may not be a bad thing if you can get a good price.