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Bin Group issues 300 billion corporate bonds Movement to strengthen US market penetration
According to related industries and foreign press on the 27th, Bean Group is issuing corporate bonds worth $33.6 million (approximately 33.6 billion won) to raise financial resources necessary for the smartphone business and automobile business. Some observers say that it is a’bullet’ to take over LG Electronics’ mobile communication (MC) business headquarters.
Vingroup announced that it plans to issue bonds in three stages starting from the 18th of next month, and the funds are used by the subsidiary’Vin Smart’ (27%), which operates the smartphone business, and the subsidiary’Vinfast’ (73), which is in charge of the automobile business. %).
The Bean Group was mentioned as the most promising candidate for acquisition when LG Electronics announced on the 20th that LG Electronics’ CEO (CEO) Kwon Bong-seok is also open to the possibility of selling the MC division. It has been reported that it has already been negotiating with LG Electronics on the acquisition of the smartphone business since last year.
Another variable is that Bean Smart is trying to strengthen the US market. Beansmart recently launched 2 million units of’Maestro Plus’ and’Cricket Influence’, Long Term Evolution (LTE) smartphones, produced by Beansmart through an OEM through a subsidiary of AT&T, a US telecommunications company. did.
This is the first time that Bean Smart Smartphone has entered the US market. Beansmart plans to launch its 5G smartphone’V Smart Aris 5G’ in the US market this year and accelerate its invasion of the North American market.
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LG-Vin Group’s chemistry is not bad, but the key is whether the conditions are met
The scenario in which the bin group takes over the LG Electronics smartphone business is not bad for both. To be precise, it may be the best option for LG Electronics, but it is the industry’s opinion that it is an issue for the Vin group to closely weigh the profit and loss.
An investment banking (IB) industry official said, “If LG Electronics is considering the possibility of selling, it is best to hand over all the smartphone business to the right partner, and is it not a welcome atmosphere in the market?” It is important, but the key is whether there is anyone living in the smartphone market environment.”
There is a possibility that some will acquire LG Electronics’ smartphone business in order to use LG Electronics’ brand awareness in the US, distribution network, and after-sales support (AS) infrastructure.
LG Electronics’ global smartphone market share is only in the 2% range, but its market share in the U.S. market is in the early to mid-10% range, having a distinct presence after Apple and Samsung Electronics. It is evaluated that its position in the United States is more solid than in Korea with the’cost-performance ratio’ (performance-to-price) as a weapon.
On the other hand, inside the LG MC business division, even after the official e-mail from President Kwon Bong-seok, the agitation of employees does not completely subside. President Kwon said that he is reviewing all possibilities, including the sale and withdrawal of business, and it seems that he is paying close attention to the company’s policy.
An employee of the MC business division said, “If the situation is about this point, I would like to accept even the desired retirement.”