LG, a major Korean manufacturer of electronics, has officially disproved the rumors that it is going to announce Nexus 5, a new smartphone. A top manager of LG says Nexus smartphones are in great demand worldwide. Still, the company suspends its cooperation with Google in the field.
Last Tuesday, the company introduced Nexus 4 in white. The white version has the same tech specification with the standard black version. The first Nexus model, created jointly with Google, was introduced last summer. The device is powered by Android OS.
Google owns all the rights on the Nexus brand. It should be noted that Samsung and HTC used to be involved in the production of Nexus smartphones as well. It turns out that LG, like all other companies, was just the assembler of the device. It seems like LG wants to focus on the development of its own mobile devices.
As for LG’s stock, it is been multidirectional so far. Yesterday it was bullish. The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of LG:
