Obsessed with technology?
Subscribe to the latest tech news as well as exciting promotions from us and our partners!
By subscribing, you indicate that you have read & understood the SPH's Privacy Policy and PDPA Statement.
News
News Categories

LG may shut down smartphone unit instead of selling it

By Cookie Monster - on 23 Mar 2021, 12:00am

LG may shut down smartphone unit instead of selling it

The LG Wing.

LG may be forced to shut down its smartphone business if talks with potential buyers fail. 

The Korean Herald reports that LG may shut down the smartphone business instead of selling it. A source claimed that LG had discussions with several parties over a potential sale, but they were not making much progress. Industry analysts believe LG may opt to quit the smartphone business if there is no interested buyer. 

LG CEO Kown Bong-seok sent an internal memo to employees in January informing them that it is time for the company "to make a cold judgement and the best choice". In addition, he shared that the company "is considering all possible measures, including sale, withdrawal and downsizing of the smartphone business". Its upcoming flagship is also reportedly put on hold.

Source: The Korea Herald

Join HWZ's Telegram channel here and catch all the latest tech news!
Our articles may contain affiliate links. If you buy through these links, we may earn a small commission.