You can put "... quitting mobile phone business" in the subject.
For the flip phone market it's more of an issue, they were virtually the only one (with the addition of Kyocera only) that was doing at least something good (Exalt was a solid phone, and Classic is a good cheap option.)
One thing that I can think of is that the carriers (like Tracfone and Verizon, who were most likely the ones commissioning the LG flip phones) will now need to find another decent OEM for those, and maybe it's even be someone better.