LG confirms it will no longer develop the smartphones or rollable phone

Almost 4 days ago, LG announced that it will be shutting down its loss-making smartphone business everywhere in the world and would be focusing more on its growth areas such as electric vehicle components, connected devices, robotics, AI and B2B customized services and solutions. The company further added that it will continue to sell it's existing smartphones until the inventory lasts and will provide the software updates and security patches for existing series of smartphones for a limited amount of time that could vary according to region.

LG managed to hold third position on the sales charts in the US for a long time but this wasn't a situation anymore. This decision has also put an end to the future of LG V60 and LG Wing, which were the last high-end smartphones released by the company. But LG was also working on a rollable phone project and was believed to be code-named Rainbow. It seems obvious that these devices will no longer be a reality. LG stated "Not sure how authentic those images are but neither device will be developed any further."

Twitter tipster FrontTron (h/t: XDA-Developers) posted a picture purportedly from Korea's telecommunications regulatory body, showing the rollable phone in the shot. The tipster also posted an image apparently showing the LG Rainbow or V70 flagship, and we see a device that adopts the LG Velvet‘s design philosophy.

Unfortunately, we don't know much about the rollable device but that fact that the phone made its way to a regulatory body suggests that it was near to launching. This might be bad news to the consumers who have recently bought LG smartphones. Despite the fact that these are functional devices, they won't be getting any long-term software support. LG's rollable smartphone seemed promising at one end with a rainbow-style shimmer white rear panel and quad-rear camera system. Do you agree with the company's decision or do you think that the company should have tried a little more with a set of versatile and perhaps a few budget-friendly smartphones in the market? Let us know what you think.