LG V60 may not have a successor, sources close to the South Korean company announcing the suspension indefinitely of preparations for the launch of a new top of the range.
The LG Rollable foldable phone may not be the only victim of the cost reduction plan and the possible sale of the LG business in the smartphone segment. Apparently, LG has also suspended the test program for the successor to the V60, although it is in an advanced stage of development, in preparation for the expected launch this month.
The smartphone, codenamed “Rainbow”, was supposed to be launched earlier this year, but according to a report by the South Korean publication Chosun, LG has already stopped the usual tests done with mobile operators.
The news comes amid rumors that LG is preparing to exit the smartphone market, being in the process of finding a buyer interested in taking over both the brand image and existing production capabilities. Industry sources even indicated that LG is approaching an agreement with the Vietnamese conglomerate Vingroup, but the talks would have stopped due to the low price offered by the buyer. The resulting blockage is now affecting the current business, which LG probably hoped to hand over as such to the future owner.
Officially, LG continues to affirm its commitment to launch new products, including the long-awaited LG Rollable, the company only stating that no decision has been made on future devices.