LG Has Decided to Delay Its Foldable Smartphone Project – Company Says It Needs to Regain Market Share First
Most smartphone makers are betting on foldable smartphones as the next big things. Samsung, Xiaomi, and Huawei are all gearing up to release their bendable phones and with the impending arrival of 5G, it seems that hybrid devices bearing foldable displays would become something of a necessity to leverage the increased data speeds.
However, LG is apparently not ready to dip its toes into this category of handsets yet. After all, the company which has experienced tremendous growth in its appliances and entertainment business has not witnessed the same success in its mobile division, suffering 15 successive quarterly losses.
LG Will Launch a Foldable Smartphone After Gauging Market Response to the New Form Factor
LG launched its impressive rollable TV during the Consumer Electronics Show back in January this year, so it’s not like the company isn’t technologically equipped to release a foldable smartphone. In fact, the company says that its technology is one step ahead of the bendable form factor. However, the company believes that given the current dynamics, it’s best to hold off releasing a foldable smartphone for now.
According to LG Electronics Mobile and TV head Brian Kwon, the market demand for foldable smartphone is expected to be nearly 1 million and since the company’s main problem right now is to regain its market position, it has decided to delay its foldable smartphone. Serving early adopters wouldn’t bode well with the company’s plan to improve its sales figures.
Even Samsung is reported to produce its foldable smartphone in limited quantities at first to test the waters. If the market responds favorably, we can expect LG to release a foldable handset in the near future as well. However, the company hasn’t revealed yet whether it has merely delayed the launch of a foldable phone or the development process hasn’t started yet. The company had previously submitted patent applications for foldable devices, so it looks like the company is putting a hold on the project for a brief period only.
As for now, LG is planning to unveil two new smartphones during the upcoming Mobile World Congress; the 5G-ready V50 ThinQ and the LTE-capable G8 ThinQ. The V50 ThinQ will apparently start shipping from March and since this is the company’s first 5G-enabled smartphone, LG expects a positive response from the market.
Image Credits: LetsGoDigital
News Source: Korea Times