Over the last few years, LG has failed to mark its presence in the smartphone industry, and it’s experimenting hasn’t been fruitful. Some reports suggested that LG was planning to quit the smartphone industry, but the South Korean giant never accepted. However, Bloomberg’s recent report suggests that the South Korean giant could close down the whole mobile division, as no one wants to buy LG’s business after all.
According to an undisclosed Korean publication source, DongA Ilbo suggests that the LGs negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC have fallen through as LG was asking for a lot of its 1% global market.
In January, LG Electronics’ CEO said they consider all the options for their loss-making mobile division. Still, now, with no buyer, there’s only one option left, shutting down the mobile division.
LG’s fate is still unclear, but according to DongA Ilbo, the final decision could be announced as soon as early April. Also, it is being suggested that mobile divisions’ employees will be redistributed to LG’s other subsidiaries instead of being shelved.
The Fate of LG Rollable and Rainbow
Well, it’s quite sad since the South Korean electronics giant had a promising lineup for 2021, including the much-awaited LG Rollable and the Rainbow, which is on being hold now. As for LG Rollable, it is still in development, and recently it received the Bluetooth SIG certification. But it is believed that the company is scrapping its whole lineup for the first half of 2021.
It’ll be hard not to miss LG as it gave us some of the best mobile phones in the industry; even when smartphones were not the thing, it came up with some of the interesting and smart mobile phones. It has also played a key role in developing the Android ecosystem and Google’s Pixel lineup, too; the South Korean giant was the face behind the Nexus 5, the Nexus 5X, and the Pixel 2 XL.