Rumor: LG may sell its mobile business to Vietnamese conglomerate VinGroup

Rumor: LG may sell its mobile business to Vietnamese conglomerate VinGroup
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The other day rLG CEO Electronics Kwon Bong Sok (Kwon Bong-Seok) stated that the company could withdraw from the mobile business. Now the network has information about a possible buyer of the unit.

What is known

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 maker 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.

Recall LG’s mobile business is in minus already 23 quarters. The company tried to change this by releasing smartphones with new design and unusual form factorsbut success they are not have brought. The latest project was a smartphone with rolling display LG Rollable shown on exhibition CES 2021.

Source: Business Korea

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