LG Electronics may close down mobile phone business

SEOUL: LG Electronics Inc may shutter its mobile communication business rather than sell it, DongA Ilbo reports, citing an unidentified person in the electronics industry.

Negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC on possible sale of the smartphone business seemed to have failed, according to the report. LG Electronics’ CEO said in January that all options were on the table for the loss-making operation. The company was said to have halted development last month of phones with a rollable display, and DongA said today that LG has shelved a planned first-half rollout of all new smartphones.

LG may share its decision on the business’ fate with employees as soon as early April, the DongA report said.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LG Electronics fans bemoan end of era as firm exits smartphone businessFans of LG Electronics smartphones rued the loss of more affordable Android-based devices after the South Korean tech company said on Monday it would quit the business, with some praising LG for the innovation it brought to the industry.
Source: staronline - 🏆 4. / 75 Read more »

LG officially closes down its global smartphone business | SoyaCincau.comWe won't see any more wacky ideas like the LG Wing, with the South Korean company officially closing down its global mobile business.
Source: Soya_Cincau - 🏆 16. / 55 Read more »

LG becomes first major smartphone brand to withdraw from marketThe division has logged nearly six years of losses totalling some US$4.5 billion. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »

LG becomes first major smartphone brand to withdraw from marketCurrently LG phone global share is two percent, shipped 23 million phones last year. Blackberry should come back strong ...
Source: malaysiakini - 🏆 20. / 51 Read more »