LG wants to close phone deal instead of selling it, says report

LG plans to end its mobile phone arm, Korean news site DongA reported over the weekend. The deal would be closed instead of sold, the report said, citing an unidentified source, who said negotiations for a sale to Volkswagen and Vingroup JSC had stalled.

This follows a report in January by The Korea Herald that LG was trying to discard its phone business despite having just launched its new rollable phone technology at CES 2021.

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LG in February denied reports that it was canning your new rollable phone, the LG Rollable, but DongA reported on Sunday that LG canceled its plan to launch rollable phones in the first half of 2021. The extremely competitive the global smartphone business is being led by Samsung, Xiaomi, Apple, Oppo and Huawei, with foldable multiple phones on the market and Apple is reportedly working on a.

LG is “exploring a variety of options in light of the headwinds facing our mobile business,” said Michelle Leff Mermelstein, LG’s head of public relations in the United States, in an e-mailed statement.