LG can bid farewell to the smartphone industry, which has never been able to get what it wants.Claims that LG will bid farewell to the smartphone industry or scale its mobile division have been spoken for a while.
On the other hand, the company denied these allegations. Finally, the Korean publication dongA made new claims.
Accordingly, it is stated that LG met with Vingroup and Volkswagen as potential buyers for the company’s mobile division, but negotiations with both parties failed. It is also among the information that a very high price is requested compared to the global market share of approximately 1 percent. As such, it is stated that there is only one option left and the mobile part is considered to be closed. The final decision is expected to be announced to employees in early April. The company will thus try to distribute its employees from the mobile division to home appliances and automotive divisions as well as other subsidiaries such as LG Energy Solution.
LG’s list of smartphones on the road is currently suspended. This includes the LG V60’s successor, Rainbow. It is reported that the development process of LG Rollable is still underway, but it is shared that the phone is unlikely to be commercially available.
LG’s mobile division continued to struggle financially, but the company announced that this division was open to every eventuality. Let’s see how the fate of the mobile department will be shaped after these developments.