LG confirmed to be working on a foldable phone; doesn't plan on being the first

LG Mobile CEO Hwang Jeong-hwan has confirmed that a foldable smartphone is in the works. Speaking at the press conference for the launch of the LG V40 ThinQ (via Yonhap), Hwang told that the company is working closely with its partners to build a flexible phone.

However, it is unlikely that LG will launch the device any time soon. Hwang also said the company isn't completely focused on being the first to launch such a device. Instead, it will wait until it produces a device that offers value to the consumers.

We've already seen the patent detailing LG foldable devices before, this is the first time the company has directly confirmed the existence of any such smartphone.
LG is one the biggest display panel suppliers for smartphones, which makes it well placed to produce a display for foldable phones. The company has been making flexible displays for smartphones since 2013 and previously announced to increase the production of POLED flexible displays.

In 2013, LG launched its LG G Flex, which came with a curved screen and a self-healing back. This was followed by the G Flex 2 in 2015, offering a similar design. Currently, Samsung and Huawei are to closest to be launching a foldable smartphone.

Code-named 'Winner,' the smartphone is said to see the light of day at Samsung's annual developer's conference in November, reported The Korea Herald. The San Francisco event is slated for November 7 and is said to run for 48 hours straight. The company is also expected to showcase the Galaxy Home in detail at the event.

The reports fall in line with the company's mobile unit CEO DJ Koh tease a few days back. He said that the company would be unveiling its disruptive device by the end of the year, rubbishing rumors of an early 2019 launch.

Few reports claim that Xiaomi has also started the development of its own foldable smartphone. The company is said to be working with the suppliers. Unlike, Samsung and Huawei which have in-folding designs for their devices, Xiaomi's version will have an outward folding design. What remains unclear is how the company would choose to price the device.