After failing to sell the mobile division, LG is expected to confirm next week that it is exiting the smartphone business after its mobile division, LG Mobile has posted net losses for six consecutive years.
Specifically, the announcement is expected to take place next Monday, April 5, an announcement that will be used to reveal that LG Mobile employees will be relocated to the home appliances division.
"LG has considered various options, such as the sale, split sale, or withdrawal of the smartphone business, but has recently decided to withdraw from the business," industry sources revealed, adding that the company will make an official announcement at their meeting. of the board of directors on April 5. "
It should be remembered that the latest reports indicated that LG was in talks with Vingroup and Volkswagen to sell its smartphone business, but negotiations on both fronts have failed due to the high price that LG was demanding despite its global market share is hovering around 1 percent. After this failed sale attempt, the new information simply summons us to next Monday to put an end to the rumor mill with an official statement.
We have captured this news on several online sites and a few of them are mentioned below:
GSMArena reports this as "Report: LG to exit mobile business after all"
While AndroidAuthority titles it as "Report: LG has decided to pull out of the smartphone business"
However, The Korean Times reported it first under the heading of "LG appears to pull out of money-losing smartphone business"
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