LG has started to get more attention in the last couple of days, but not necessarily for good reasons. The company seems to be ready to make significant changes in its operations in the smartphone division, but that could also mean that the company may also be considering exiting the smartphone market.
This information comes at a moment when LG has caught the world’s attention thanks to its explorer project, which includes great ideas and innovation in the form of the latest LG Flip and a possible rollable device that amazed virtual crowds with a short demo during CES 2021. This rollable device is said to be getting ready for a possible launch in September, but recent rumors claim that LG may be having second thoughts about the device.
According to reports from the Korea Herald, LG hasn’t decided whether or not to convert this prototype into a mass-market device, even though it is still open to every possibility. The company is also said to be in talks to sell its smartphone business to Vietnam’s Vingroup Company, the third-largest smartphone producer in Vietnam after Samsung Electronics and OPPO.
Now, LG may also end up keeping its smartphone business for a bit longer, but that doesn’t necessarily mean that we will get this rollable device. The company doesn’t want to keep on losing money, and their smartphone segment has been reporting losses for several years now, with an estimated loss of $4.5 billion since 2015.
The company may still look for ways to improve its sales numbers, but even its latest LG Wing hasn’t been as profitable as it had hoped for. The device is a head-turner indeed, but it has sold less than 100,000 units since launch. The same is expected to happen with the new rollable device, as it would probably be an expensive phone, and that would also hinder its sales performance. For now, all we can do is wait.
Source The Korea Herald
Via GSM Arena