LG recently announced that they will not be building any Android based tablets to compete in the tablet arena. Here's a quick quote from them,

“We’ve decided to put all new tablet development on the back burner for the time being in order to focus on smartphones,” Ken Hong, a spokesman for Seoul-based LG, said in an e-mailed response to queries.
You know this had to be a tough decision for executives to make at LG, but it was probably the right decision. On the one hand, you have the potential to eke out some profit on the fastest emerging new technology market on the planet. On the other hand, the field is so ridiculously crowded with nearly hundreds of Android manufacturers, plus the new Surface tablet from Microsoft was just announced, and of course, you still have the juggernaut that is the iPad to contend with. LG is currently the number four smartphone manufacturer for Android. It makes sense to consolidate your resources and not waste them chasing a miniscule margin of profit, when instead you can focus those resources on improving your smartphones and competing there.

As an interesting sidenote, Ken Hong of LG also had a final comment to make about the new tablet from Microsoft,

“LG doesn’t see Surface competing with anything we’re focusing on at the moment."
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Source: AndroidTablets.net via Bloomberg