LG Electronics CEO Kwon Bong-Seok recently announced that the company may leave the mobile business. Now the network has information about a possible buyer of the unit.
According to Business Korea, LG may sell the business to the Vietnamese conglomerate VinGroup. VinGroup is rumored to have made a tempting offer to LG and the company is likely to accept it. In case you didn’t know, VinGroup is the third-largest smartphone manufacturer in the country after Samsung Electronics and OPPO. By the way, the Korean company has been cooperating with VinGroup for several years. It acts as an ODM for some LG models.
As a reminder, LG’s mobile business has been in the red for 23 quarters. The company tried to change this by releasing smartphones with new designs and unusual form factors, but they did not bring success. The latest project was the rollable smartphone LG Rollable, which was shown at CES 2021.