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South Korean major LG Electronics has denied a media report that said the company may scrap a plan to develop a smartphone with a rollable display.
Yonhap news agency reported, citing industry sources, that LG reportedly told its parts suppliers, including Chinese display maker BOE, to put the rollable smartphone development project on hold.
According to The Verge, the company said the LG Rollable has not been put on hold.
"I can firmly deny that any such decision on future mobile products has been finalised," an LG spokesperson was quoted as saying in the report late on Monday.
LG last month announced that its mobile business unit is open to "all possibilities" for its future operations amid rumours that the company may sell the struggling mobile business.
Then the company said the development of the rollable smartphone is still in progress, but it has not revealed its future plans in detail.
LG's mobile business has been in the red since the second quarter of 2015. Its accumulated operating loss reached nearly 5 trillion won ($4.5 billion) last year.
Analysts said LG will either shut down or sell its mobile business, or at least scale it back.
LG, has, however denied reports that it was planning to exit the smartphone business.
At its event for the all-digital Consumer Electronics Show 2021, LG teased its rollable smartphone with a short video clip.
Named 'LG Rollable', the device was highlighted by a resizable screen with a side-rolling display.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, February 23 2021. 11:20 IST