LG Smartphone business has not been good for quite some years now. The brand once was one of the most popular players in the smartphone market and got its portion in the flagship segment with devices such as the LG G2. However, the Korean giant could not keep up with the competition.
Last year, it revealed that it’s working on a futuristic rollable smartphone. But now, it seems the device will not see the light of the day as the company has stopped the development of the device along with two other innovative handsets.
According to a BizChosun report, the South Korean tech giant has stopped the developed of three OLED display projects. These displays were supposed to be housed on upcoming innovative smartphones, including the LG rollable, and other foldable devices as well. Furthermore, the projects were also being co developed by known display maker BOE. Reportedly, BOE is now reviewing a claim regarding development costs to LG.
Reason For Halting The Rollable Smartphone Development
The basic reason for the company halting development on its smartphone project is likely its lagging mobile division. For those unaware, the brand has been seeing lackluster sales in the last couple of years. To combat this, the company had aimed to launch innovative devices in the future, but weak sales for handsets like the LG Wing might have affected the company’s decision. During CES 2021, LG had teased its first rollable smartphone, which could have its display size expand or retract.
Currently, it is unknown what amount BOE is looking to charge LG with regarding the matter. Additionally, an industry insider stated that “Because the development cost per smartphone model is about 10 million dollars based on Korean panel makers, we are looking for a smaller amount from the BOE”. The source further added that “we set the mass production target as low as 100,000 units, we will not or have accumulated a lot of supplies.”