LG will reportedly announce the shutdown of its mobile business on April 5

Update 01/04/2021: LG has confirmed that it plans to close its smartphone business worldwide.

The original story reads as follows:

Once again, reports that LG has plans to shut down its mobile business have appeared.

A new report, this time from The Korea Times, indicates that LG will shutter its smartphone business. 

“LG has considered various options such as a sale, split sales or pulling out of the smartphone business, but decided recently to pull out of the business,” according to industry sources speaking to The Korea Times. The source also indicates that LG will make an official announcement on April 5th. 

Additionally, LG has reportedly relocated its mobile communication employees to other areas of the business.

In late March, South Korean publication DongA llbo reported that LG planned to shutter its mobile business rather than sell it. Further, the report said that LG was in negotiations with Volkswagen and Vietnam-based company Vingroup JSC regarding the purchase of its smartphone business, but that talks ultimately broke down.

LG’s CEO said back in January that there are a variety of options on the table regarding the future of its smartphone business. Previous news indicated that the company halted the development of its rollable display handset, however, LG denied these rumours.

Source: The Korea Times