LG can declare the closure of mobile business in April


Mobile business of the South Korean company LG is now experiencing not the best times. Already that the quarter in a row he brings some losses. And recently in the media there was information that LG considers the possibility of selling or closing the smartphone unit. Representatives of the company, of course, refuted these rumors, but smoke without fire, as you know, does not happen.

This week, insiders with a new force have been talking about the fact that the mobile direction pulls the LG to the bottom. They reported that LG was considering business sales and even led about this negotiations with several potential buyers, including Vingroup and Volkswagen. However, negotiations were not crowned with success. Sources argue that LG requested a too high price for its mobile business, especially considering that companies now have only 1% of the global smartphone market.

And since finding a buyer to your mobile business Koreans could not, now the only way out remains — completely close this direction. According to the Korean media, LG can declare a final decision to its employees in early April. The company plans to distribute mobile business officers for other units. In particular, employees will be able to switch to the divisions involved in the development of household appliances and cars, as well as other subsidiaries, such as LG Energy Solution and LG Display.