LG Electronics Inc. plans to close its smartphone division. This is reported by the Donga Ilbo edition.
According to the newspaper, this decision was made after the corporation was unable to sell this business to potential buyers – German Volkswagen AG and Vietnamese Vingroup. LG may announce its further fate to employees in early April.
The company has already suspended development of the LG Rollable sliding smartphone and the flagship Rainbow.
Earlier it was reported that LG will help Apple develop a flexible display for the new smartphone. Industry sources said that LG Display has agreed with the American company to cooperate. According to the agreement, engineers from both corporations will create a screen for a foldable iPhone. Information about the partnership between LG and Apple confirms rumors that the American corporation is interested in entering the foldable smartphone market. Insiders noted that LG will focus on development, but another company may be involved in the supply.
