LG is reportedly shutting down its smartphone business

LG would possibly lastly be giving up on its smartphone enterprise. 

We have first heard the rumor again in January, when it was stated that the corporate is wanting into both promoting, downsizing, or shuttering its money-losing cell division. 

Now, in keeping with The Korea Occasions, the choice has been made: LG is pulling out of the smartphone enterprise. 

The outlet’s sources say that LG has tried to promote its cell division to a number of events, however failed to succeed in an settlement with any of them. The corporate is predicted to make an official announcement about shutting down its cell division at its board assembly on Monday, April 5. 

LG declined to verify the information to the outlet, saying that “each risk is open,” and that the corporate “will announce the particular path” of its cell communications enterprise.

There is no query about why LG would possibly shut down its smartphone division — it hasn’t turned a revenue since 2014, and the corporate’s world smartphone market share has declined considerably prior to now couple of years. 

The rollable smartphone, as teased by LG throughout this yr’s CES.

Nonetheless, the corporate teased a rollable smartphone throughout its CES presentation in January. A number of days later, the corporate insisted that the cellphone is “an actual product” and that it is going to be launched in 2021.