LG has reportedly stated that it prefers to close its mobile division rather than sell it to another company. Rumors of a possible sale of LG’s mobile division are losing more and more strength. A Korean source claims that LG would prefer to completely close the division and leave the smartphone market, rather than sell it to another company.
Until now, rumors had been heard about the interest of companies such as the Vietnamese VinGroup, which in 2018 took over; As well as others such as the German automotive giant, Volkswagen.
LG is not for sale: The company would prefer to close its mobile division
Earlier this year, the company’s leaders let their employees know that they did not rule out the decision to close the mobile division, after several years in a row reporting economic losses.
The company itself had already decided to cancel all launches of new smartphones throughout the first half of 2021 while waiting to decide what to do with the division focused on telephony.
Among the canceled projects was the LG Rollable, a smartphone with a rollable screen shown during the CES show in Las Vegas held in January.
Sources tell that we will not have to wait too long to know the final decision of the South Korean giant. Apparently, in early April, it should communicate to its employees the strategy to follow, and if the LG mobile division remains alive, or closes its doors indefinitely.