Compared to its competitors like Samsung, LG doesn’t look like they are faring quite as well. So much so that there was a report from The Elec that allegedly cited an internal memo at LG over in Korea that the company would be shutting down its smartphone business and that an official announcement would be made by the end of the month.
The report has since been deleted, with Ken Hong, LG Electronics’ Head of Global Corporate Communications, releasing a statement refuting those claims. The statement, made to XDA Developers, was short and succinct and reads, “Definitely untrue, more speculation and rumors.”
The initial report was a bit suspect to begin with. After all, if LG was planning on shutting down its smartphone business, they wouldn’t have bothered to showcase devices like a phone with a rollable display that they debuted at CES 2021. In fact, Hong had previously confirmed that the device was indeed real and that LG is planning on launching it later this year.
That being said, it should be noted that LG has made some changes to its smartphone operations. The company is no longer making its phones in South Korea, and there was also a report from last year that suggested that LG would be outsourcing production of its low and mid-range phones to other manufacturers, presumably to help cut costs and to focus more on their higher-end products.