LG Mobile Sell Talks Fail, Division Tipped To Be Shut Down
LG Electronics is now seriously considering shutting down their mobile phone business after talks to sell the division to a European group failed.
According to Bloomberg negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC on possible sale of the smartphone business have failed.
Seen as an excellent product LG has struggled in Australia to get traction for their smartphones with retailers and carriers despite many observers claiming that they are superior to products from the likes of Oppo, Realme, Nokia and several other competing brands.
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.
ChannelNews understands LG has shelved a planned first-half rollout of all new smartphones.
The South Korean Company said they may share its decision on the business’ fate with employees as soon as early April.