LG seems to have been trying to sell its mobile phone division with little interest, and now the company could shut down its business altogether.
According to a report from Bloomberg, LG was discussing a potential sale with Volkswagen AG and Vingroup JSC in Vietnam, as interpreted through the story of the Korean publication Dong-A. Negotiations over the sale of the telephone division have come to an end, according to Dong-A. This gives little confidence in the future of LG’s rollable phones, which was unveiled at CES earlier this year.
LG’s CEO promised to turn the company’s smartphone business around in 2020, but it seems that there was too much ongoing competition with Apple, Samsung and China for South Korean manufacturers.
According to DongA, LG has shelved the first half of the 2021 smartphone release for the time being. This includes the long-awaited rollable phone. Earlier this month, South Korean publication Korea reported that LG’s V60 was delayed indefinitely.
LG is likely to issue an official statement to employees later next month.
This does not mean that LG will completely withdraw from the smartphone supply chain. LG is currently one of the leading suppliers of flexible OLED displays to Apple. We also provide panels to other phone makers.
There were many opinions as to why LG couldn’t find a foothold in the highly competitive smartphone world. Some, like YouTuber’s Mrwhose theboss, argue that LG can’t stick to one concept or design decision and is of little help in building brand loyalty.
The company has some cool phone ideas, such as the rotating display on the LG Wing and the modular design of the LG G5, but none of these ideas stick to future iterations. As a result, phone buyers never see version 2 of these ideas, and LG’s own phones fall into ether.
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