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LG: We're committed to being a major player in mobile

The Korean electronics conglomerate dismisses a report that it is shifting its focus away from smartphones and towards TV as "completely untrue."

LG's G2.

No, LG isn't giving up on the smartphone business.

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."

Had LG pulled out of the smartphone business, it would have been a curious move. The company last month reported a third-quarter profit largely based on its handset unit. The Nexus 5, a Google phone built by LG, is a hot item and it has its own highly rated flagship phone, the G2, in the market.

It's just the latest in questionable reporting from a Korean publication. Mobile chip designer ARM earlier Friday dismissed a rumor from the Korea Herald that it was working on a 128-bit processor, noting that such a chip isn't really needed. ARM claimed the comments cited in the report were made up.