A report from last month claimed that LG is weighing its options for the rollable phone it showed off at CES 2021. Now Yonhap reports that the decision has been made to mothball the project.
LG has told its parts suppliers to put work on the rollable phone on hold, according to insiders quoted by the Korean news agency. This includes BOE, which was contracted to make the display. The suppliers may seek compensation for the work they have already done. LG has made no official comment on the matter.
This device was part of the ambitious Explorer Project, which was supposed to deliver a one-two punch with a classic flagship (the LG V70, most likely) followed by the rollable phone. We’ve heard no rumors of a flagship on the way, however.
The company is reportedly considering selling its mobile division or shutting it down. The division has been losing money since Q2 of 2015 and racked up $4.5 billion in total loses to date. It has continued to struggle despite multiple attempts to turn things around and bold projects like the LG Wing (also part of the Explorer Project).
Mothballing the rollable phone doesn’t necessarily mean that LG has decided to leave the mobile business. There were doubts that the project would be commercially successful (the Wing wasn’t), so this could just be a move to cut loses.