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LG stops work on Rollable sliding smartphone with rolling display
22.02.2021 [17:00],
Vladimir Mironenko

It is possible that LG Electronics will ditch plans to release a foldable smartphone with a flexible display, industry observers said Monday amid speculation that the South Korean company might shut down its unprofitable mobile business.

LG has informed component suppliers including Chinese display maker BOE that it will suspend its foldable smartphone project, according to sources. Sources added that in the future, component manufacturers will be able to demand compensation from LG for the development costs of the new folding device.

LG announced last month that rumors about its withdrawal from the mobile market are completely false and have no basis whatsoever. The company added that its mobile division is open to “every opportunity” to do business in the future. Then LG said that it continues to develop a foldable smartphone, although it did not disclose details about its plans in this regard.

LG’s mobile business brings losses since the second quarter of 2021. Cumulative operating losses of its mobile division reached almost 5 trillion won ($ 4.5 billion USD) last year. Analysts believe LG will either close, sell, or at least severely curtail its mobile business.

LG hints at developing a foldable smartphone in a short video clip at an event held as part of the virtual Consumer Electronics Show 2021. The device was named LG Rollable.

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