LG Seeks to Close Phone Business Rather Than Sell It, Report Says

The LG Rollable was unveiled at CES 2021.


LG is looking to shut down its mobile phone arm, Korean news site DongA reported over the weekend. The business would be closed rather than sold, according to the report, citing an unidentified source, who said negotiations for a sale to Volkswagen and Vingroup JSC have stalled.

That follows a report in January by The Korea Herald that LG was looking to ditch its phone business despite having premiered his new roll up phone technology at CES 2021.

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

LG in February denied reports that canning your new roll-up phone, the LG Rollable, but DongA reported on Sunday that LG canceled its plan to launch rollable phones in the first half of 2021. The global smartphone business is being led by Samsung, Xiaomi, Apple, Oppo and Huawei, with various folding phones in the market and Apple is supposedly working on one.

LG is “exploring a variety of options in light of the headwinds facing our mobile business,” Michelle Leff Mermelstein, LG’s director of US Public Relations, said in an emailed statement.

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LG offers a look at the rollable phone at CES 2021


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