Say it ainât so: LG will reportedly shutter its smartphone business next week Story by Shares LG was one of the first manufacturers to jump on the Android bandwagon more than a decade ago â it launched its first handset based on this OS back in 2009. But thereâs a possibility that we might not see an LG-branded phone in the future. After failing to sell its smartphone business, the company is considering shutting the unit down. According to a report from The Korea Times, LG will announce this move on April 5, during its board meeting. In January, multiple rumors of LG selling its smartphone division came to the surface after the companyâs leaked internal memo to staffers indicated this step. A report published from The Korea Times at that time indicated that VinGroup, a Vietnamese conglomerate, was already in talks with the tech giant to strike a deal.