Information appeared on the network that the South Korean company has decided to close the division for the production of mobile phones.

This was announced by a source of the publication DongA Ilbo. The company has been negotiating the sale of the business with the Vietnamese conglomerate VinGroup and even the German car manufacturer Volkswagen for some time, but they failed. According to the source, LG will announce the closure of its mobile division in the coming days. The company has already stopped production of new devices, as well as the development of the innovative Rollable smartphone with a stretching screen.

As a reminder, LG’s mobile business has been in the red for 23 quarters. The company tried to change this by releasing smartphones with new designs and unusual form factors, but they did not bring success. One of the latest projects was the LG Wing with a T-shaped swivel body and two screens.