LG Electronics announced that it will close its mobile phone business unit. LG has lost around $4.5 billion in its smartphone business over the past five years, as competition, especially from China, is strong. LG's global smartphone market share is around 2% and the company did not manage to find a buyer for its money-losing unit.
In the past few years LG aimed to focus on high-end phones with new designs, especially the Explorer series of next-generation phone designs and technologies. The first Explorer phone was the LG Wing, a unique smartphone that sports dual displays in a swivel revolving display design. The Wing sports a main 6.8-inch 2460x1080 flexible LGD P-OLED display and another 3.9-inch 1240x1080 G-OLED (LG's rigid OLED brand) display.
LG was also developing a rollable smartphone, which was reportedly going to ship in early 2021 and become the world's first such device. Now it is clear that this rollable phone will not see the light of day.