Since last year, LG Electronics has been teasing its futuristic rollable smartphone but according to the latest news, it seems that LG will halt development for this device and two other innovative handsets.
BizChosun reported that LG has stopped the development of three OLED display projects. It is worth mention that these displays were supposed to be housed on upcoming innovative smartphones including the LG rollable and other foldable devices. Notably, the projects were also being co-developed by known display maker BOE. As per the report, BOE is now reviewing a claim regarding development costs to LG.
Most probably, the primary reason for the company halting the development of its smartphone project is because of its lagging mobile division. In the last couple of years, LG has experienced lackluster sales. In order to combat this, LG had previously aimed to launch innovative devices in the future, but weak sales of handsets like the LG Wing might have affected the company’s decision.
Even in the CES 2021 event that took place virtually, LG had teased its first rollable smartphone which could have its display size expand or retract. Right now, it is unknown what amount BOE is looking to charge LG regarding the matter.
An industry insider stated, “Because the development cost per smartphone model is about 10 million dollars based on Korean panel makers, we are looking for a smaller amount from the BOE. We set the mass production target as low as 100,000 units, we will not or have accumulated a lot of supplies.”