LG reportedly considers leaving the smartphone game – CNET

Despite recently premiering its new rollable phone tech at the 2021 Consumer Electronics Show, LG may be considering getting out of the smartphone game altogether, according to a Wednesday report by The Korea Herald. The tech giant is facing stiff competition from other manufacturers as it looks to balance a $4.5 billion loss over the past five years.

LG CEO Kwon Bong-seok reportedly sent a memo to employees Wednesday, notifying them of big changes coming to the company’s smartphone division, which might include a sale.

“Regardless of any change in the direction of the smartphone business operation, the employment will be maintained, so there is no need to worry,” Bong-seok reportedly said.

“Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice,” an LG official told The Korea Herald. “The company is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business.”

In a statement to The Verge, LG reportedly said that while the company is committed to making any changes necessary, at this time no plans have been finalized. 

LG did not immediately respond to CNET’s request for comment. 

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