LG seeks to shut down phone business instead of selling it, report says

LG is planning to shut down its mobile phone business, Korean news site DongA reported over the weekend. The business would be shut down instead of being sold, the report said, citing an anonymous source, who said negotiations for a sale to Volkswagen and Vingroup JSC have stalled.

This follows a report released in January by The Korea Herald that LG was looking to abandon its telephony business despite the fact that he has just created his new roll up phone technology at CES 2021.

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LG in February denied reports that it canning your new rollable phone, the 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 the global smartphone business is led by Samsung, Xiaomi, Apple, Oppo and Huawei, with multiple foldable phones on the market and Apple would be working on a.

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

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