LG is reportedly shutting down its smartphone enterprise

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 back in January, when it was mentioned that the corporate is trying into both promoting, downsizing, or shuttering its money-losing cellular division. 

Now, in line with The Korea Instances, the decision has been made: LG is pulling out of the smartphone enterprise. 

The outlet’s sources say that LG has tried to promote its cellular division to a number of events, however failed to achieve an settlement with any of them. The corporate is anticipated to make an official announcement about shutting down its cellular 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 precise route” of its cellular communications enterprise.

There is not any query about why LG would possibly shut down its smartphone division — it hasn’t turned a profit since 2014, and the corporate’s world smartphone market share has declined significantly up 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. Just a few days later, the corporate insisted that the cellphone is “a real product” and that it is going to be launched in 2021. 

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