14 DAY TRIAL // LG has officially confirmed that it’s giving up on smartphones, and this means the company is also ditching some of its latest projects in the mobile business, including the rollable phone that everybody was waiting for.
In addition to the rollable device, LG was also believed to be working on a V60 successor that was offered referred to as Rainbow.
But in a statement for AA, LG explains that no further devices are planned as the company just wants to wind down its mobile business.
“Not sure how authentic those images are but neither device will be developed any further,” an LG representative was quoted as saying.
Full focus on other sectors
LG explained in its original announcement earlier this week that the company is closing its mobile business unit in order to focus on other product categories including electric vehicle components, smart homes, artificial intelligence, and connected devices.
The company will continue to roll out software updates according to the original schedule, and some devices would even receive the Android 12 OS update, but no new models would go live.
“LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level,” LG explained.
“Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.”
The company will continue to sell mobile phones until all inventory is cleared.