LG has struggled to maintain a prominent place in the competitive mobile market. As a result, the company is reportedly preparing to announce that it will close for smartphone operations.
According to The Korea Times, LG will announce that it will withdraw from the smartphone market on April 5 after failing to make a profit in recent years.
“LG Electronics appears to have decided to withdraw from its money-losing smartphone business and entered into a transition process to move its mobile communications staff to other business devices,” The Korea Times so.
LG has had an operating loss since 2015, and despite struggling with some really innovative devices, the company has not managed to turn around its mobile business. The company tried to find a buyer, allegedly entertaining from Volkswagen and Vietnam̵
As recently as January, a spokesperson from LG said that the company did not close down the mobile business. And in fact, there were reports LG was working on new devices this year, even teasing a rollable smartphone a few months back. The LG Rollable, as it was tentatively called, was expected to offer a “unique screen size” that was capable of transforming.
If LG really closes its mobile business, it means that everything they had planned for 2021 has been scrapped. LG’s absence from the Android market would be a big loss for the industry, because the company has come up with many good ideas. LG also helped make legendary phones like the Nexus 5 and Pixel 2 XL.
“All we can say is that every opportunity is open,” a company spokesman said The Korea Times. “Although we are unable to confirm this right now, we will announce the specific direction of our mobile communications business.”
For now, we will wait for official confirmation from LG about future mobile plans. Today is April 1st, which is difficult when reporting on big news. With an announcement supposedly coming on April 5, it will not be long before we know one thing or the other.