LG has told AndroidHeadlines that it is working on foldable phones, and has been for a few years already. But LG has also stressed that it is not aiming to be first to market with a foldable phone, instead it wants to create something that users actually want. Meaning that LG isn't going to release a foldable phone just because it can. Of course, LG did not disclose any specifics about a foldable phone, but we do know that it is working on one and is planning to take its time with the foldable phone.
LG is no stranger to foldable or flexible phones. It released the LG G Flex back in October of 2013, which had a flexible P-OLED display included. This foldable smartphone, when it does actually come to life, will likely be an extension of the LG G Flex, but a bit more foldable than the G Flex was all those years ago. There are already plenty of LG patents popping up in regards to foldable smartphones, including one that has a rollable display. So it's quite clear that LG is working on foldable smartphones, and of course LG isn't alone, but since LG does make displays, it can actually get a foldable display out before others (except maybe Samsung).
With LG waiting to put out its foldable smartphone, it means that it won't get all those headlines of being first with a foldable smartphone. But that is okay with LG. The company is instead looking to put out something that will be interesting and useful to its customers, instead of just a gimmick. And this is based on feedback that it is getting from its customers right now, who are unsure that a foldable smartphone is even worthwhile right now. The fact that LG has been working on a foldable phone for a few years already is not a huge surprise, as these smartphones take a few years of development before they actually become available for people to buy. And that is especially true when talking about smartphones that are using new technology like a foldable display.