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Say it ain't so: LG will reportedly shutter its smartphone business next week


Say it ain’t so: LG will reportedly shutter its smartphone business next week
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LG was one of the first manufacturers to jump on the Android bandwagon more than a decade ago — it launched its first handset based on this OS back in 2009. But there’s a possibility that we might not see an LG-branded phone in the future.
After failing to sell its smartphone business, the company is considering shutting the unit down. According to a report from The Korea Times, LG will announce this move on April 5, during its board meeting.
In January, multiple rumors of LG selling its smartphone division came to the surface after the company’s leaked internal memo to staffers indicated this step. A report published from The Korea Times at that time indicated that VinGroup, a Vietnamese conglomerate, was already in talks with the tech giant to strike a deal. ....

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LG appears to pull out of money-losing smartphone business


Posted : 2021-04-01 16:51
Updated : 2021-04-01 17:51
LG Electronics Yeouido headquarter building displays G6 in lit-up windows to celebrate the release of the company s G6 smartphone in this March 31, 2017 photo. Courtesy of LG Electronics
By Baek Byung-yeul
LG Electronics appears to have decided to pull out of its money-losing smartphone business and entered into a transition process to relocate its mobile communications employees to other business units.
After suffering operating losses since 2015, LG attempted recently to sell its mobile communications unit, which oversees the smartphone business. The company has reportedly been in negotiations with various interested buyers, including Vietnam s Vingroup, but failed to reach an agreement with any of them. ....

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Report: LG Will Kill its Smartphone Business on April 5th

Report: LG Will Kill its Smartphone Business on April 5th
extremetech.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from extremetech.com Daily Mail and Mail on Sunday newspapers.

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