LG V60’s successor has been put on hold

A few days back reports came in that LG has put their rollable screen smartphone project on hold and the reason behind this was expected to be their bad performance in the smartphone industry. Now another report has just come in that the company has indefinitely put its V60 successor on hold. LG was about to begin field testing of the phone with the codename Rainbow in March. However, the rumors indicate that they have reportedly ceased communication with local carriers about the release of the Rainbow.

The phone was also rumored to be the first phone from the company in a traditional-looking smartphone factor, which was powered using the Snapdragon 888 chipset and also came with the support for a stylus. This is not the first project the company has recently put on hold, and this is not a good sign for the smartphone segment for LG. The rumors also suggested in the past that LG is looking to sell off its smartphone segment of the business as it has not been performing well over the last few years.

The hold on the rollable screen project confirmed that the company is not going to invest further in the project as they are not interested in adding more resources to the smartphone business. However, the hold on another project almost confirms that we are soon going to see the sell-off for their smartphone business. We might see more reports about the same in the future until final confirmation of the sell-off comes in.

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