LG looking to shut down phone business instead of selling it, report says – CNET

lg-rollable

The LG Rollable was unveiled at CES 2021.

LG

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

It follows a report in January from The Korea Herald that LG was looking to scrap its phone business despite having just premiered its new rollable phone tech at CES 2021.

Read more: Top foldable phones for 2021: Motorola Razr 2020, Galaxy Flip, Galaxy Fold 2 and more

LG in February then denied reports it was canning its new rollable phone, the LG Rollable, but DongA reported Sunday that LG has cancelled its plan to launch the rollable phones in the first half of 2021. The hugely competitive global smartphone business is being led by Samsung, Xiaomi, Apple, Oppo and Huawei, with multiple foldable phones on the market and Apple reportedly working on one.

LG didn’t immediately respond to a request for comment.

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