LG seems to be in a difficult situation. There is no official announcement yet, but people have been discussing the future of South Korea’s other tech giant. Well, we are mainly referring to the telephone business of the company that has been suffering for the last few years. In recent months, we’ve been wondering what will happen to LG. Yesterday, we mentioned that LG may stop releasing updates once it goes out of the mobile business. The business may also be closing and is not for sale.
The flagship smartphone LG Rainbow is believed to be discontinued now. The LG Rollable Phone may be canceled, but LG has already denied the rumor.
We also said once that LG’s smartphone business could be sold to a Vietnamese company, but it seems the plans fell through. Leaving the smartphone business seems like the right decision and now we are learning that LG Electronics could be making the decision.
LG is saying retiring from the phone business and is now entering a transition period. Mobile communications staff will relocate to other LG businesses.
The company has not really made any official comments or statements, but an official said: “All we can say is that all possibilities are open. Although we cannot confirm that at this time, we will announce the specific direction of our mobile communications business. “
Only LG’s phone business is in danger. It is doing very well in the home appliance and smart TV business. In fact, the demand for smart home devices increased last year due to the pandemic. LG is also investigating the business of vehicle components (electric motors / chargers / inverters) and electric vehicles.
In this area, we know that LG partnered with Magna International to work on those automotive parts. Could LG be making an electric vehicle like Apple? It’s a posibility. That or LG and Apple are working together. Let’s wait and see.