LG's smartphone division has been in trouble for a while, but that hasn't stopped the company from showing off some crazy new concepts like the Wing, and more recently, the LG Rollable. The latter looked like an incredible device, and was definitely something we were itching to get our hands on. Sadly, despite LG confirming plans to launch the innovative device later this year, new rumors suggest it may have been canceled. After this story was published, an LG spokesperson contacted The Verge to deny rumors of the cancelation, and the article has been updated to reflect this.

According to Yonhap News, LG has asked supply-chain sources to put their parts of the project on hold. It's possible that production has been more sluggish than expected and that the company is just delaying the device. Still, when you consider that LG may be exiting the industry entirely, cancellation of the Rollable sounds more likely.

LG has had a troubled time with its smartphones as of late. In December, it shared plans to outsource more of its products to other ODMs to cut costs, but even that might not have been enough. LG's phones haven't made a profit since the second quarter of 2015 and sold less than 25 million devices in 2020, leading to a loss of $4.5 billion. This led to reports in January that LG is considering selling its smartphone division to the Vietnamese conglomerate Vingroup.

With all of this in mind, the cancellation of a high-risk phone like the Rollable wouldn't be surprising. Perhaps it might later be revisited if the sale goes through, but if not, there's still Oppo's rollable to look forward to.

Statement from LG spokesperson

LG has since denied that the Rollable has been canceled. Speaking to The Verge, an LG spokesperson said, “I can firmly deny that any such decision on future mobile products has been finalized.” Before you get your hopes up, pay careful attention to the wording of this statement. As well as confirming the Rollable hasn't been canceled, there's no guarantee that it will be released, either. We'll just have to wait and see what the fate of this exciting device will be.