From a June 27, 2020, posting:
From the linked article:In January, LG announced that it was considering options for an exit from the smartphone industry, "including sale, withdrawal and downsizing."
Though LG was once the world's third-largest smartphone maker and a sizeable competitor to Apple in the industry, the company's smartphone business has seen declining shipments and accrued losses of $4.5 billion over the past five years, leading to the need for an urgent re-evaluation of the division.
LG reportedly entered talks with Vietnam's Vingroup and automaker Volkswagen about purchasing the company's smartphone business, but negotiations did not lead to an agreement.
Although the decision has yet to be confirmed, industry insiders report that LG is now likely to shut down its smartphone business instead of selling it.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.