After its announced closure, LG announced that its premium lineup will get three years worth of Android updates. The update is guaranteed to come OTA through three of LG’s lineups: The G series, the V series and Velvet, as well as the LG Wing. While budget phones like the Stylo series and K series will receive two years.
LG said it will continue manufacturing smartphones while its closure is in due process. This means customers willing to buy LG, can buy LG phones remaining in its inventory, while stocks last. As mentioned in the closure, LG will continue to provide software updates and support for currently available smartphones in their inventory.
Source: LG Newsroom