The LG smartphone business has been struggling for quite some time. However, last year the brand decided to bring a major overhaul to its lineup that focused on premium mid-range phones rather than the more expensive high-end segment. Despite the new phones, the company has not been able to recover the bleeding mobile segment. Since the beginning of 2021, we’ve been hearing rumors about the brand’s decline in the smartphone business. LG foldable phone introduced at CES may never be introduced due to these events.
According to a report from the Korea Herald, the launch plans for LG Rollable have not been decided yet. LG made a statement a few days ago stating that it could withdraw from the phone industry. As such, it is considered certain that LG will withdraw from the mobile industry.
LG is estimated to have lost $ 723 million for the whole of 2020. The total operating loss since 2015 is around $ 4.5 billion. Despite this damage, it is thought that LG will not produce and sell a $ 2,600 phone.
LG Wing, for example, won a CES Innovation Award. However, since its launch, the phone has sold less than 100,000. All in all, it looks like we are not ready to leave standard smartphones. It’s no surprise that foldable smartphones are still devices geared towards a specific user niche. Because of this fact, insiders believe LG Rollable has already been canceled. The device can be a hero for the company. But ultimately it looks like a way LG’s mobile division will use to increase the selling price.