A couple of days ago our very own Garemlin brought us the sad news that LG was potentially shifting away from the smartphone business and refocusing their R&D budget toward their TV business. Luckily, it turns out the report from the Korean news publication which originally reported this intel was reporting unfounded and completely incorrect information. Since that news report, LG themselves have come forward refuting the news story completely. Here's a quote with more of the details,

LG responded to a report by Korean publication ET News that it was shifting its resources away from the mobile business and towards televisions, dismissing it as "completely untrue."

"We are more committed than ever in making the LG brand a major player in the mobile space," an LG representative said on Friday. "And we think our products this year speak for themselves."

Furthermore, LG said the report was based on "non-credible sources and uninformed speculation." ~ CNET
We have to admit, here at HQ we were skeptical from the beginning regarding this story, but we appreciate Garemlin for sharing it because it could have been true and would have been a pretty big shakeup in the mobile industry. Overall though, it wouldn't have made sense for LG to suddenly dump their smartphone business. It was actually their handset business that posted a decent profit last quarter while they have been struggling in the TV business. Additionally, they have been finding great success with the G2 and the new Nexus 5.

Regardless, we feel like we dodged a bullet with this one because the tech industry is really good at surprising us once in a while!