OREANDA-NEWS South Korean company LG may close its own production of smartphones. This information is reported by Bloomberg, citing industry sources.

The agency reports that LG has frozen the development of flexible display phones since February 2021. The next decision was that the company postponed all the presentation of new smartphones planned for the first half of the year.

Insiders say that LG negotiated the sale of unprofitable smartphone production with the Vietnamese conglomerate Vingroup and the automaker Volkswagen AG, but they were a failure.

The latest high-profile development by LG is the Rollable smartphone. The project was presented at CES 2021 and, according to insiders, began to undergo certification.