You are in the competitive world of technology today and not tomorrow, LG has decided to definitively close its smartphone division; the official announcement is expected to be made in its board of directors on April 5
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The LG company has made the decision to permanently close its smartphone division to stop the loss of money in the mobile segment . The company is expected to make the official announcement at its next board of directors on Monday, April 5.
The decision has not yet been officially shared, The Korea Times reports. , however LG has begun a “transition process” to relocate the employees of the mobile division in other business units.
According to the information, after suffering operating losses since 2015, LG considered several options, such as selling its entire mobile unit or even for parts . The negotiations were carried out with important names in the industry, among which Vingroup of Vietnam, but in the end it was not reached an agreement with which both parties were satisfied, which led to the decision of the complete closure of the communications division. LG mobiles.
An LG spokesperson consulted by the Korean newspaper noted, “ There is nothing to comment. All we can say is that all possibilities are open . Although we cannot confirm that at this time, we will announce the specific address of our mobile communications business ”.
Reports indicate that while the company has struggled with the smartphone business, the value of LG’s shares has been revalued thanks to rising demand for its state-of-the-art appliances and televisions as consumers have spent an increasing amount of time at home due to the Covid pandemic – 50 .
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