LG wants to stop phone business instead of selling it, reads the report

LG plans to shut down its cell phone arm, Korean news website DongA reported over the weekend. The report will read instead of being sold, reads an unnamed source, who says that negotiations on a sale to Volkswagen and Vingroup JSC have stopped.

This follows a January report from The Korea Herald that LG was looking for its phone business despite the fact that it was just its premiere new mobile phone technology at CES 2021.

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

LG denied reports in February that this was the case canning his new rollable phone, the LG Rollable, but DongA reported on Sunday that LG had canceled its plan to launch rolling phones in the first half of 2021. global smartphone business led by Samsung, Xiaomi, Apple, Oppo and Huawei, with multiple foldable phones on the market and Apple is apparently working on a.

LG is exploring a range of options in light of the wind our mobile business is facing, ‘Michelle Leff Mermelstein, LG’s head of US public relations, said in an email.