LG, one of the largest consumer electronics brand globally, is also known for developing smartphones. It has brought concept devices such as LG Wing, LG G8X ThinQ with dual-screens and more to India's market.
The company was also in the development stages for its smartphones with a rollable display. But according to a Bloomberg report, that project has been halted by LG. The reason behind that is the company’s future.
While LG makes a ton of profits through its several products, unfortunately, its smartphones didn’t get the same kind of reception from the market as its other products did. Because of that, the company might shut down its smartphone developing and selling business altogether.
LG’s Future in the Smartphone Industry a Difficult One
LG was initially expected to sell its smartphone business to another company. According to an Ilbo report, a person close to the electronics industry has said that LG will close down its smartphone business instead of selling it.
The company was in talks with Vingroup JSC from Vietnam and Volkswagen AG from Germany for selling its mobile business. But it seems like the company couldn’t get a deal from either of the companies.
That is why, it might sell its smartphone business completely. LG is expected to announce something regarding the same for its employees by as early as April.
If the company shuts down its smartphone business, it will mean that you will never be able to see or hold new LG smartphones.
LG was expected to launch a number of smartphones in the first half of 2021, but the company has also shelved that plan.
It is important to note that LG hasn’t confirmed anything about shutting down its smartphone business anytime soon. However, the coming few days should confirm whether the news is true or not.