It is well known that LG's smartphone division's future is under doubt and now, there is a new report that strengthens those suspicions. A South Korean publication Chosun has reported that the LG V60 successor development has been put on hold indefinitely.

The report cites an official familiar with LG development plans to make the claims. It is said that LG was supposed to begin the field test in collaboration with telecom partners by the end of February so that it can go ahead with the March launch. The phone is said to be internally referred to as "Rainbow". It has now decided to pause all "Rainbow" development plans for now and carrier partners have agreed with the decision as well.

Even though LG has been busy releasing innovative and unique smartphones, the Rainbow was expected to be a traditional and classic-looking smartphone. It means it would have been a candy bar-style phone, similar to the numerous other phones that get released on a regular basis.

LG's decision to postpone the development and launch of Rainbow is not surprising. It teased its first rollable smartphone named LG Rollable at this year's CES virtual keynote. It was planned for a 2021 release but recent reports have claimed that it has also been delayed. However, LG has officially denied any such plans in store for the rollable smartphone.