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LG's mobile business is still looking for a buyer as its rollable phone remains in limbo

LG Velvet
LG Velvet (Image credit: Alex Dobie / Android Central)

What you need to know

  • Reports indicate that LG has yet to find a buyer for its smartphone business.
  • LG was in talks to sell the business to Vingroup, but price differences were too great.
  • The company maintains that it will launch its rollable phone this year, despite rumors indicating otherwise.

Things are not looking good for LG. The company's mobile division has been a weak link for the past six years, unable to compete with some of the best Android phones on the market. Now looks like it's having trouble letting go of this money-losing machine. LG has reportedly been looking to sell its smartphone business as part of its latest restructuring, but it turns out it may not be so easy to find a buyer.

The Korea Times reports that talks to sell the smartphone business to Vietnamese conglomerate Vingroup have broken down. Apparently, the price was the main determinant, according to an official familiar with the situation. The sale would have included LG's manufacturing plants in Vietnam and Brazil.

With Vingroup offering a lower price than expected, LG will move on to find another buyer. Also, the company's smartphone production lines overseas such as in Vietnam and Brazil can be realigned to manufacture home appliances.

LG will likely continue searching for a buyer, but given the flexibility of its manufacturing facilities, it's possible that the company could just stop making phones regardless of whether or not one can be found. LG would even relocate employees within the company to lessen the impact of the restructuring.

Meanwhile, questions have arisen over the future of a highly-anticipated smartphone known as the LG Rollable. Some reports claim that LG is putting the project on hold indefinitely, although the company has since refuted these allegations. A spokesperson from LG has said that they can "firmly deny that any such decision on future mobile products has been finalized."

That doesn't exactly sound reassuring and could very well mean that the decision to scrap the device remains on the table. LG is also expected to launch follow-ups to its India-exclusive W-series smartphones, as well as a successor to last year's LG V60 ThinQ, although they could also be on the chopping block.

Losing LG as a smartphone manufacturer wouldn't exactly be a good thing, nor would the loss of one of the year's most exciting smartphones. Fortunately, LG isn't the only manufacturer working on rollable phones, and OPPO has what looks to be a near-finished concept model that looks ready for prime time.

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.

4 Comments
  • LG leaving Android would be the best decision they’ve made in W long time, they just cannot compete with Samsung. Their software is garbage and their lack of updates is even worse, LG can’t even get the basics right like listening to the few customers they have left so nobody but the few fans they have left will miss such a terrible OEM and I’d wish they’d take Motorola with them too who are also another horrible OEM.
  • You clearly don't know what you are talking about and have never owned an LG phone
  • Last year I was ready to upgrade my LG V30 so I kept looking around for the next phone coming out. Found nothing. I gave the Oneplus 7t a try since they were on sale then the very next month the V60 comes out. I hate this 7t. Proximity sensor does not work so if I have the trap on feature on, it constantly turns on in my pocket and sets alarms for random times. I can't adjust the volume of ringtones and notifications separately and it constantly has issues connecting Pandora to my car. Sounds like I might have to give Samsung s try. Sure did like all the LG's I have had since the Nexus 4.
  • Other than the nexus models LG has sucked even back to the optimus line LG has sucked mainly the G series and Stylo series were hit or miss. Lenovo and moto can get tossed in the can too.