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LG Electronics negotiated with a Vietnamese company to sell its smartphone business, but it is known that the negotiations were virtually broken due to price differences. There are observations that LG Electronics will eventually push for a’complete withdrawal’ of the smartphone business while the sale has not made progress. It is known that LG Electronics is discussing internally related personnel relocation issues.
According to the electronics industry on the 22nd, it is known that the sale negotiations have not progressed for more than two and a half months since LG Electronics President Kwon Bong-seok opened the possibility of selling the smartphone business through an e-mail sent to employees on January 20.
A senior industry official said, “I know that the price suggested by the Vietnamese group, etc. was unacceptable for LG Electronics.” “We still have to open up many possibilities, but the plan to withdraw the patent while internalizing it seems likely. LG Electronics has accumulated considerable research know-how in the smartphone business.”
The development of the’Rainbow’ project announced by LG Electronics as a strategic product in the first half and the next form factor’Rollable’ has also been virtually stopped. The absence of a sequel can be interpreted in the context that LG Electronics will decide to withdraw the smartphone business sooner or later.
It is known that LG Electronics is reviewing the direction of relocating related personnel to the HA (Household Appliances) business headquarters, while internalizing the patent rights of the smartphone business. It seems to be taking into account the synergy between mobile and home appliance research personnel.
The securities industry predicts that the direction of LG Electronics’ smartphone business may be presented at the LG Electronics shareholders’ meeting held on the 24th or the LG shareholders’ meeting held on the 26th. Kim Dong-won, a researcher at KB Securities, previously predicted, “Considering the limitations of the business in which the MC (smartphone) division recorded a deficit of 5 trillion won over the past six years, the possibility of withdrawal and sale will be somewhat higher than reduction.
/ Reporter Yoon Hong-woo [email protected]
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