LG struggles to sell its smartphone unit — rollable phone reportedly scrapped

(Image credit: Time to come)

The LG Wing and its rollable smartphones are arguably the most innovative devices we've seen in recent years, but unfortunately, the average consumer just couldn't get on board with the company's funky, offbeat phones.

LG is not but struggling to woo the general public, but it's likewise having difficulties attracting potential bidders. According to Korea Times, LG was in talks with a Vietnamese conglomerate to sell its phone business, but nothing came of it due to a price-negotiation disharmonism (via AndroidCentral).

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LG may go out the smartphone market soon — we may never see the LG rollable phone

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LG's smartphone business caught the middle of Vietnamese conglomerate Vingroup. Perhaps it saw some value in LG's phone division initially, but at its electric current request price, Vingroup is backing out.

"LG had been negotiating with Vingroup to sell its smartphone-manufacturing facilities in Vietnam and Brazil, nonetheless, the discussions recently collapsed mostly due to the toll difference," a high-ranking manufacture official familiar with the thing reportedly told Korea Times.

For the time being, employees working at LG's smartphone unit will be reallocated to other departments. The smartphone production lines in Vietnam and Brazil will reportedly be repurposed for manufacturing abode appliances. "With Vingroup offering a lower toll than expected, LG volition move on to find another buyer," the official added.

With LG struggling to negotiate a satisfactory sale of its smartphone unit, many are wondering virtually the fate of the LG'due south rollable phone. Korea Times alleges that the highly publicized device has been scrapped, which conflicts with The Verge's report that the tech oddity "has non been put on concur."

"I tin firmly deny that whatever such conclusion on future mobile products has been finalized," an LG spokesperson told The Verge. However, The Verge concedes that the LG spokesperson but wanted to analyze that no definitive determination about LG'due south rollable device has been made, which ways that information technology could still be on the chopping cake.

The Verge insinuated that it's wary about putting too much stock in LG's official statements. In January, Korean outletTheElec exposed LG's plans to sell its smartphone unit, only LG denied these claims, causing TheElec to delete the article. By late Jan, LG issued a memo announcing that it is, indeed, exiting the smartphone market place.

As a big fan of the Wing, I hope that LG'southward rollable device survives through this company'due south tumultuous fourth dimension. Who knows? It might be the first flexible device that wins the public's hearts.

Kimberly Gedeon, belongings a Principal's degree in International Journalism, launched her career as a journalist for MadameNoire's business beat in 2022. She loved translating stuffy stories almost the economy, personal finance and investing into digestible, like shooting fish in a barrel-to-sympathise, entertaining stories for young women of color. During her time on the concern beat out, she discovered her passion for tech as she pigeon into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. After eight years of freelancing, dabbling in a myriad of beats, she's finally found a domicile at Laptop Mag that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!