LG shuts smartphone business: Here’s what is happening to rollable phone, V60 successor

The last two high-end phones LG launched were LG V60 and the dual screen LG Wing.

LG Velvet. (HT Tech)

LG recently announced that it is shuttering the smartphone business forever. This means that the firm will not just work on any new smartphones for future but will also stop working on the handsets that were under development already. Confirming to Android Authority, the South Korean tech firm says that the rollable phone project and the successor to LG V60, both won't see the light of the day.

“Not sure how authentic those images are but neither device will be developed any further,” an LG representative said to the website.

It is worth mentioning that LG was really close to launching its rollable phone this year. Tipster FrontTron recently posted a picture from Korea's telecommunications regulatory body, showing the handset in all its glory. From the looks of it, the device seemed like a final version.

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Although we won't see any new hardware coming from the firm, it did mention that customers will still continue to update these devices. The company said in a press release issued earlier today, that its phones will continue to receive software updates, which will depend on the region they were released in. This includes the Android 11 update, which the company is still in the process of preparing for release for some devices

But while the smartphone business is taking a hit, the home appliance segment of LG is expanding more. Just a day ago, the firm started rolling out 5 new soundbars with Dolby Atmos and DTS:X support in the Europe and North America markets. LG says the new soundbars focus on “high-quality audio, easy connectivity, smart functionality and stylish aesthetics.”