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LG V60 successor allegedly put on hold amid rumors of smartphone exit

LG V60
LG V60 (Image credit: Andrew Martonik / Android Central)

What you need to know

  • A new report indicates that LG's next flagship, codename "Rainbow," is put on indefinite hold.
  • The report claims that LG has halted all testing of its V60 successor, which was initially planned for a launch this month.
  • LG has supposedly been searching for a buyer of its smartphone business, which has been losing money for nearly a decade.

Fans of the LG V60 ThinQ 5G may be disappointed to know that the company has reportedly put its next flagship on indefinite hold. The smartphone, codename "Rainbow," was expected to launch early this year, but according to a report from Korean outlet Chosun (via Sleepy Kuma), LG has already stopped testing the device with carrier partners.

The news comes amid rumors that LG has been considering an exit from the smartphone business and that it's looking for someone to buy its manufacturing facilities. At one point, it seemed as though LG was coming close to a deal with Vietnamese conglomerate Vingroup, but those talks reportedly broke down over price differences. This has left LG's business, as well as any prospects for future smartphone launches, essentially in limbo.

LG has maintained that the company still committed to launching products, including the highly-anticipated LG Rollable that was teased at CES earlier this year, claiming that a decision on future devices has not been finalized. Despite that, LG's responses have not garnered much hope that the company will remain in the smartphone business much longer, and any hope for a 2021 flagship has mostly gone down the drain.

There hasn't been much information around the "Rainbow" device. It was first mentioned late last year as a flagship successor to the V60 with design cues from the gorgeous LG Velvet. It was said to feature a flagship chipset, most likely in the form of the Qualcomm Snapdragon 888 which will power this year's best Android phones. Besides that, news has been mum on the V60 successor, which is odd considering how LG likes to hype up its flagships long before they launch.

Derrek Lee
News Editor

Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.

7 Comments
  • Unfortunately this does nothing but cause the beginnings of a vicious circle. Once a company puts out bad press about themselves, possibly exiting the market no less, then why would anyone buy a phone from a company that may just very well soon enough cut their losses and exit the market? I mean I can understand those looking for deep discounts and willing to take their chances, but it causes people to decide not to buy an LG phone which doesn't help LG's matters in the slightest and even makes it worse for them. It's sad when you think that LG used to be pretty much second only to Samsung but that was a long time ago...
  • What does this mean fruit the Pixel line?
  • The Pixel line also should be killed off. No more stock Android phones. They're not worth it.
  • LG needs to leave Android, they've been bad since the LG G2 in my opinion.
  • Good bye and good riddance, I got my son an LG G6 and it was total crap, it got wet (IP 68??) and was never able to recharge the phone via the plug only wirelessly. This was unacceptable for a flagship and the did not replace it saying it would soon dry out and accept a connection.
  • Sorry LG, you are your own worse enemy. You have become the new HTC of the smartphone world? It's that simple folks!
  • I feel like the LG G4 boot loop error was the beginning of the end for them. I vowed never to waste my money on another LG phone after that mess. Twice my phone failed, and it took over a month to be repaired with no apology whatsoever.