LG Electronics may be shuttering its mobile division entirely
According to Bloomberg's report, neither Volkswagen AG nor Vingroup JSC wants to buy LG Electronics' loss-making smartphone business. Currently, these represent the sum total of negotiations that LG has had with other parties.
Earlier this year, LG's CEO stated that the company was considering all options for its smartphone business. Apparently, LG's failure to attract potential buyers has left its smartphone business at risk of being closed altogether.
Development of the LG Rollable remains ongoing, but it may not receive a commercial release anymore. However, all future smartphone development has been shelved, presumably until a resolution is found.
If LG were to close its mobile division, we would imagine that it would impact ongoing software support. LG remains one of the worst Android OEMs for delivering software updates, but ceasing smartphone operations would likely spell an end to development for the Velvet, Wing and the V60 ThinQ.