The smartphone market is insanely competitive and companies like TCL, One Plus, Blu, Oukitel, and others, are jumping in and taking over the low to middle-end markets and infringing on the upper-end of the market. A company like LG would be hard-pressed to be able to make a profit in the smartphone sector given the level of competition, so if you can't make money in a market segment, get out of that segment. It's a smart business move by LG.
As to the poster wanting a new phone and service, Tracfone is still pretty hard to beat. Tracfones here at QVC start at around $56 including a full year's service, so you're paying less than $5 a month to get a new phone and use of it for a year.
Fly!!! Eagles!!! Fly!!!