Is LG Stopping its Mobile Phone operations?

Previously, news came out claiming the South Korean tech giant LG is not willing to continue its Mobile Phone department. The reason that was put forward at that time turns out to be a loss-making business from the mobile sector. Thus the company decided to sell its mobile phone operations to some other brands in order to cope up with the ongoing loss. But that didn’t go as well either, leaving the renowned tech giant with a decision to close its mobile phone operations completely worldwide.

As enlightened by DongA Ilbo (Via Bloomberg), the company was in negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC, which now resulted in being off the table. Thus the whole plan of selling the mobile phone business came to an end apparently. Though there is no such official news that can back up with this information more reports claim the company has been trying to sell its mobile phone business especially after the announcement of the upcoming LG Rollable smartphone in CES 2021. The consumer electronics manufacturer’s CEO had stated that the company is considering all options for its loss-making business.

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In the month of February the company had introduced LG Rollable smartphone, a new innovation from LG after the launch of LG Wing. This rollable smartphone was rumored to be delayed due to some difficulties later on the company decided to stop working on any other new smartphones and it seems that the rollable smartphone might also not come anytime soon after this decision from the company. As far as we know no new smartphones will be launched from the first half of this year and the company might share some official information regarding this by the month of March.

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