NEW DELHI: South Korean tech giant LG seems to be having a really hard time as the company is not getting favourable results from its mobile business.
Recently, an online report revealed that the company has paused the development of its rollable smartphone. Now, it appears that the company is planning to put its next flagship V-series smartphone on hold.
According to a report by a Korean publication Chosun, LG has indefinitely put its V60 successor on hold. Codenamed Rainbow, LG was supposed to start the field testing for the smartphone at the end of February and it was expected to release in March this year.
But the report highlights that the company has ceased all the communication with local carriers related to the release of the Rainbow.
The LG Rainbow smartphone was said to be powered by an octa-core Qualcomm Snapdragon 888 processor. The smartphone was also expected to come with stylus support.
Another online report by BusinessKorea revealed that LG is also planning to exit the smartphone business. The report suggests that LG is planning to sell its smartphone business to a Vietnamese conglomerate.
Vietnam’s Vingroup Co has put an attractive offer to purchase LG’s smartphone business. The company already manufactures phones for LG under ODM contract and it is also the top third smartphone maker in Vietnam.
The report also added that Vingroup Co is interested in taking over LG’s smartphone business in the US.
Source: Click Here