Update (04/05/21): LG has confirmed that it will be shutting down its mobile business.
It looks like LG could seriously be considering exiting the phone business. According to reports, LG is expected to make an official announcement on its decision on monday, April 5.
This is not the first time LG was rumored to exit the mobile phone business. But when asked for a comment on the rumor, officials from the company say that “there’s nothing to comment on”. They also promise that “every possibility is open” but they “cannot confirm that right now.” LG promises that they will “announce the specific direction of our mobile communications business.”
The report says that LG’s plans to sell its phone business have all fallen through. There are rumors that its negotiations with VW and others didn’t pan out, which is why LG is deciding to shut down its smartphone division altogether.
What this means is that LG’s Rollable display will be shelved for the meantime, along with the smartphone manufacturer’s first-half phone release schedule.
If the reports are true, LG could be relocating its resources to other departments in their business, such as appliances, battery, and automotive. It’s possible that we’ll get an official announcement from LG on Monday, after their board meeting.
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