Sadly, LG is exiting the mobile market and there are probably a fair bit of inventory out there that will make consumers uncertain if they should buy it or not as well as a lot of current users who may have concerns going forward.
They've now officially said that they'll have you covered for 3 years from date of purchase; you won't be just forgotten:
LG Reassures Current and Future Customers
Following Announcement to Withdraw from Mobile Industry
SEOUL, Apr. 8, 2021 — 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.
This promise comes on the heels of the announcement earlier this week that LG will be exiting the mobile business by the end of July. 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.*
LG will continue to manufacture phones through the second quarter to meet contractual obligations to carriers and partners. This means customers can still purchase LG mobile phones currently in inventory and service support and security software updates will continue to be provided for a period of time for certain devices. Customers should contact their local LG customer service center for additional details.