 |
| LG denies leaving LG Rollable |
LG said its customizable LG Rollable Cellphone screen has not been revealed.
LG spokesperson said: I can firmly oppose such decisions regarding future mobile products.
The refusal of the move came on the heels of a report in Yonhap News that LG has informed parts supplier LG Rollable of its suspension.
The report said: LG could abandon its foldable screen smartphone development project as more people believe the company may abandon the loss-making mobile business.
LG has reportedly asked component suppliers, including Chinese screen maker BOE, to delay development of rewindable smartphones, and component manufacturers may demand compensation for their future efforts.
LG employees said, "We cannot confirm anything about the company's smartphone plan at this time."
Amid rumors that LG may sell a discontinued wireless company, LG's mobile division presented a major opportunity for future operations last month.
The company said: The development of a foldable smartphone is still underway, but it did not disclose its future plans in detail.
LG's mobile communications business has seen a decline since the second quarter of 2015. Cumulative operating losses last year were nearly 5,000 billion won ($ 4.5 billion).
According to analysts: LG could close, sell, or at least reduce its mobile phone business.
At an all-digital CES event in 2021, LG mocked smartphones with short videos.
The device is called LG Rollable and it has a customizable side screen.
As announced last year as part of Project Explorer, the foldable smartphone is LG's second product to offer devices in various shapes and improve the mobile experience.
The dual-screen rotating smartphone is the first phone developed under Project Explorer.
Industry watchers believe LG's foldable phones may have been developing slower than expected and the company may have felt pressured to do well in the market.
According to a survey by Counterpoint Research, LG shipped 24.7 million smartphones last year, down 13% from the previous year. It is the ninth largest smartphone supplier with a global market share of only 2%.