Sources say it is closing LG’s smartphone division, but the company itself says it is doing well
It was reported this week that LG intends to outsource some of its smartphone business. In particular, this applies to inexpensive smartphones. There are also troubling rumors that LG intends to close or sell its smartphone business.
LG is buried, the company denies rumors
The source was the South Korean edition of TheElec, which often publishes reliable information. The information was duplicated by Mishaal Rahman, chief editor of the authoritative resource XDA Developers.
LG Electronics is expected to close its smartphone business, which suffered from chronic shortages. On January 15, the company informed its employees that it would finally announce its smartphone division’s closure later this month. The announcement date is January 26.
The source also added that LG Electronics instructed engineers to stop all development except for “project i.” We are talking about the LG Rollable smartphone, which was presented at CES 2021.
LG’s head of public relations, Ken Hong, said these were just rumors. According to the official position, LG’s life is still good (Life’s Good).
