LG could ultimately not implement the prestige project of smartphones with a rollable display.
According to Korea Herald, suppliers are said to have already been informed of the halt in development, including the Chinese display supplier BOE, from which the rollable OLED panel should have come. Due to the termination, LG could now have to pay compensation for the development of the components.
So far, however, LG had clung to the prestige project of a rollable smartphone. After the Wing, it is the second smartphone as part of the “Explorer Project” for extraordinary devices.
The structure of the smartphone corresponds to the pull-out smartphone from Oppo, where part of the rollable screen disappears in the frame or in the back and only appears when needed. A first brief look at the smartphone concept was given in January in the final seconds of LG’s CES press conference.
LG’s smartphone division is not doing well. 23 consecutive fiscal quarters in the red and a loss of nearly $4.5 billion in the past five years speak for themselves. The business is facing a radical change and could be radically downsized or even sold to the Vietnamese Vingroup.
As early as January, reports came from Korea that 60 percent of the employees in the MC (Mobile Communications) division would find work in other areas of the company. What will happen to the remaining 40 percent of the workforce has not yet been clarified.