Many rumors suggest that LG is cancelling their latest handheld, the Rollable, due to the company's restructuring. But the South Korean-based company says otherwise.
The Verge reports that LG denied rumors of cancelling the Rollable, saying that the handheld's future mobile product has been finalized.
Rollable Will Still Roll Out, Says LG
The South Korean mobile company also rejects the alleged report by Korean outlet, TheElec, in January that it planned to leave the smartphone business and sell. The news site indeed deletes the story, but later, LG admitted that it was considering going out of business.
The news site believes that LG put a hold on the Rollable to tweak some parts of the design or change the upcoming device's release date.
Moreover, the Korean company has difficulty competing with other smartphone companies in the market, such as Samsung and Huawei, with the company losing $4.5 billion over the last five years. However, the corporation is not backing down and remains to go through with the Rollable release this year.
Is LG Shutting Down?
In the past months, many speculations have been surrounding the LG Rollable, with its unique design and interface that it was too good to be true. The rumors state that the upcoming variant may be delayed or cancelled, and it may never see the light of day.
Newsbytes reports that LG has allegedly told its suppliers, including those providing displays, that the Rollable has been put on hold. The phone bearing a rollable display was expected to roll out in March this year.
But, its future is still unsure following last month's company email, stating that "all possibilities are open" and the company coming to a stance where they calmly judge the mobile business's current and future competitiveness.
The memo was meant to shut down rumors in Korea and assuring employees that nothing has been finalized yet, and LG is keeping its option open to address the mobile competitiveness of 2021.
LG's Struggles to Keep Up With Other Tech Companies
Gizchina reports that the LG smartphones business has been struggling for some years, and the brand failed to keep up with the competition. The South Korean-based company was innovative in phone design as the first mobile brand to design an 18.9 display and the LG Wing's swivel-design ecently.
In December last year, LG planned to outsource more of its products to other ODMs to cut costs. However, it may not have been enough to bounce back.
The brand has also suffered a loss in market sales, not making a profit since the second quarter of 2015 and sold less than 25 million devises in 2020. With that said, this started all the speculations regarding its closure and withdrawing from the mobile business.
LG has been a household name for smartphones, and so far, the brand is always behind other mobile company in specs and features. However, there is still a chance that the LG Rollable can change the game and bring a fortune to the company.
This article is owned by Tech Times
Written By: Luis Smith