Company LG Electronics Inc. Plans to close its units for the production of smartphones. This is reported by the Edition of Donga ILBO.
According to the publication, such a decision was made after the corporation could not sell this business to potential buyers – German Volkswagen AG and Vietnamese Vingroup. LG can declare employees about further fate already in early April.
The company has already suspended the development of a sliding smartphone LG ROLLABLE and flagship Rainbow.
Previously, information appeared that LG will help Apple develop a flexible display for a new smartphone. Sectoral sources said that LG Display agreed with the American company on cooperation. According to the contract, the engineers of both corporations will be created by creating a screen for a folding iPhone. Information about the partnership LG and Apple confirms rumors that the American Corporation is interested in entering the market of folding smartphones. Insiders noted that LG concentrates on development, but another company can occur.