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The Korea Times reports that the negotiations to sell the smartphone business between LG Electronics (hereinafter referred to as LG), which is suffering from sluggish smartphone business performance, and Vingroup in Vietnam have broken down.
LG withdraws from smartphone business
LG has been in the red in the smartphone business for several years, and it is rumored that it will withdraw from the business.
In mid-January this year, an LG spokeswoman denied rumors of selling the smartphone business, but Reuters later stated that LG was “considering all options,” including withdrawing from the mobile business, including smartphones. I reported.
In addition, The Korea Herald reports that LG is in talks with Vingroup in Vietnam about the sale of its smartphone business.
Negotiations broke down with Vingroup
However, according to the latest information obtained by The Korea Times, the negotiations to sell the smartphone business between LG and Vingroup did not close the difference in the amount offered by the two companies and broke down.
Officials have stated that the two companies will not negotiate again.
That said, LG hasn’t given up on selling its mobile business and is looking for another buyer, a source told The Korea Times.
LG has also reportedly stopped developing a retractable smartphone that was unveiled at CES online in January.
Source: The Korea Times via Phone Arena
Photo: LG
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Source: iPhone Mania