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Author Topic: LG in talks to sell smartphone business  (Read 9355 times)

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LG in talks to sell smartphone business
« on: January 22, 2021, 07:54:52 AM »

LG Electronics has been making headlines with swirling reports that the company plans to exit the smartphone business. The latest development involves a Vietnamese conglomerate who is reportedly in talks of buying the smartphone business from LG Electronics.

According to BusinessKorea, Vietnamís Vingroup Co has put the most attractive offer to buy LGís smartphone business. The company accounts for 14% of Vietnamís market capitalization of listed Vietnamese companies. It has a diverse portfolio of businesses with hands in various industries including hotels, real estate, distribution, cars, smartphones, and land development. The company already produces smartphones for LG under ODM contract and is the top third smartphone manufacturer in Vietnam behind Oppo and Samsung.


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