[2보] LG Electronics’ smartphone business failed to be sold… Final withdrawal decision

(Seoul = Yonhap News) Reporter Jo Seong-heum = LG Electronics[066570]Finally decided to end the mobile business on the 5th. It has been more than two months since it announced that it would review all possibilities, including the sale of the business.

LG Electronics held a board meeting that day and decided to withdraw from the mobile business undertaken by the MC division. Subsequently, it announced the suspension of business that the production and sales of the MC business headquarters will be terminated.

LG Electronics explained that the reason for the business suspension was “intensifying business competition and continuous business sluggishness,” and that “we will focus on our core business capabilities and improve business structure through internal resource efficiency.”

Prior to this, on January 20, LG Electronics said, “Regarding the mobile business, we believe that we have reached the point where we must make the best choice by calmly judging our current and future competitiveness.” We are reviewing it.”

Since then, LG Electronics has contacted Vietnam’s Vingroup and German automobile group Volkswagen to sell the business, but it is reported that there has been no progress in the discussion.

LG Electronics started its mobile business with LG Information and Communications in 1995 and enjoyed its heyday, ranking third in the world market share. Reached.

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2021/04/05 10:34 sent