LG Electronics has been teasing its futuristic rollable smartphone since last year. But now, it seems that the company is halting development for this device along with two other innovative handsets as well.
According to a BizChosun report, the South Korean tech giant has stopped the developed of three OLED display projects. These displays were supposed to be housed on upcoming innovative smartphones, including the LG rollable, and other foldable devices as well. Furthermore, the projects were also being co developed by known display maker BOE. Reportedly, BOE is now reviewing a claim regarding development costs to LG.
The primary reason for the company halting development on its smartphone project is likely its lagging mobile division. For those unaware, the brand has been seeing lackluster sales in the last couple of years. To combat this, the company had aimed to launch innovative devices in the future, but weak sales for handsets like the LG Wing might have affected the company’s decision. During CES 2021, LG had teased its first rollable smartphone
At the moment, it is unknown what amount BOE is looking to charge LG with regarding the matter. Additionally, an industry insider stated that “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. The source further added that “we set the mass production target as low as 100,000 units, we will not or have accumulated a lot of supplies.”
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