LG looks ever more likely to be quitting the smartphone business

Things don’t look good for LG’s smartphone business. There have been rumors of its demise for months now, and “industry sources” now claim the decision to stop making phones has been made.

These sources – speaking to The Korea Times – said “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."

The official announcement that LG’s pulling out of the smartphone business will apparently come at the company’s board meeting on Monday (April 5) – which is something we’d previously heard from another source.

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Every possibility is open - but one seems likely

Not so long ago the company had denied claims that it might be quitting smartphones, but in a comment to The Korea Times it sounded a lot less certain, with an LG official saying “all we can say is that every possibility is open. Although we cannot confirm that right now, we will announce the specific direction of our mobile communications business."

While we can’t be sure of anything until we hear it direct from LG, we should know one way or another on Monday, but at the moment things certainly don’t sound promising.

LG has struggled to compete in the smartphone industry in recent years, but it used to be a significant player, and even now it’s responsible for some of the most interesting and innovative phones, such as the LG Wing 5G, and the LG Rollable – the latter of which might never now be released.

If LG does make any sort of announcement about this on Monday, TechRadar will be sure to cover it, so head back here then to find out whether you can expect any more LG phones.

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Via BGR