LG may be set to announce its exit from the smartphone market next week, according to a new leak.
We've heard a variety of reports recently that LG is looking to shut down its smartphone business, and according to this new information we'll be hearing directly from the company early next week.
Phone leaker Tron (opens in new tab) - a source who has had correct information in the past on LG products like the LG Rollable - says that the company is planning to make an announcement on Monday during South Korean time.
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If this report is true, it likely means we won't be seeing the LG Rollable later in the year and we're unlikely to hear of expected phones like the LG Velvet 2 or the LG Wing 2 at a later date.
Tron also suggests that this will impact the software updates on existing LG phones, so if you own a device from the company you may see updates to the phone essentially halted in the coming months.
... the software updates, it is unlikely to be done in this situation. It is in many ways unfortunate that the LG phone, which started with the feature phone, ends with the Wing.Final official statement from LG is expected to be announce next Monday, Korea time. (3/3)March 29, 2021
It's thought LG has been seeking a company to buy the LG smartphone division, but it seems that those talks have failed.
The leak also says that the 4,000 employees working on LG's smartphone business will be moved to other parts of the company.
LG has made mobile phones since the late 1990s, and it moved into making smartphones in 2010.
Clearer next week
This is yet another leak in a long line of information about LG shuttering its smartphone business. The company has stated in the past that it wasn't set to do this, but LG has yet to comment on this recent report.
This isn't official information from the company yet and it may be worth taking it with a pinch of salt. We'll be looking for an official statement from LG in the coming days to see if there's any clarity on what the company decides to do.