Phone business

LG is looking to shut down its phone business instead of selling it, report says

The LG Rollable was unveiled at CES 2021.


LG plans to shut down its mobile phone arm, Korean news site DongA reported over the weekend. The business would be closed rather than sold, the report said, citing an unnamed source, who said negotiations for a sale to Volkswagen and Vingroup JSC had stalled.

This follows a January report by the Korea Herald that LG was looking to exit its phone business despite the fact that he has just created his new rollable phone technology at CES 2021.

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LG in February denied reports that canning her new rollable phonethe LG Rollable, but DongA reported on Sunday that LG had canceled plans to launch rollable phones in the first half of 2021. The highly competitive global smartphone trade is led by Samsung, Xiaomi, AppleOppo and Huawei, with multiple foldable phones on the market and Apple is reportedly working on a.

LG is “exploring a variety of options in light of the headwinds facing our mobile business,” Michelle Leff Mermelstein, LG’s US public relations manager, said in an emailed statement.

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