LG has no immediate plans of quitting the smartphone business – here’s why

LG Rollable

(Image credit: LG)

South Korean technology brand LG has been in a thick of things of-late. Apart from the introduction of the explorer series of smartphones that includes the LG Wing and others that are still to be launched, LG teased its rollable phone at the virtually-hosted CES 2021.

The company has stayed away from the foldable phones till now and has suggested that the LG Rollable is slated for an official launch later this year. However, according to a report from a South Korean publication, this rollable phone could be LG’s last smartphone, after which it may exit the business. 

However,  LG’s global head of corporate communications, Ken Hong, has not only called these rumours baseless and untrue, but he also shot down the rumour by saying “Completely false and without merit. I won’t even justify that rumor with a statement,” according to AndroidPolice.

This now-deleted post from a Korean publication Thelec.kr hinted that the company may wind up its smartphone business and teams have been internally informed that all other projects apart from Rollable Phone codenamed as “Project I” will be stopped immediately. 

It states that the management plans to focus on businesses that are more flexible and cited ongoing losses the primary reason behind this decision. It further added that to avoid any further confusions around the company’s vision, a formal announcement could be made on January 26.

While the company is not quitting the smartphone scenes as of now, it has already been reported that the company plans to train its focus mainly on innovating new form factors and launching flagship devices only. It has been reported that LG like Samsung has decided to go the ODM route for its low-end and budget smartphones.

This move will not only help the company stay focused on creating more impactful devices but more importantly it will help LG to reduce costs.

To recall, LG has not had a record-breaking device since long. It had to discontinue its G-lineup of flagship series and had not experienced stellar results when it comes to financial results. However, with the explorer series, the company now aims to change things and we hope that it continues to bring more such exciting devices.

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January 18, 2021
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