LG Electronics has been making headlines with studies that the corporate plans to exit the smartphone enterprise. The newest improvement includes a Vietnamese conglomerate, which is reportedly in talks of shopping for the smartphone enterprise from LG Electronics.
In keeping with BusinessKorea, Vietnam’s Vingroup Co has put essentially the most engaging provide to purchase LG’s smartphone enterprise. The corporate accounts for 14% of the market capitalization of listed Vietnamese corporations. It has a various portfolio of companies with arms in varied industries together with resorts, actual property, distribution, automobiles, smartphones, and land improvement. The corporate already produces smartphones for LG beneath ODM contract and is the highest third smartphone producer in Vietnam behind Oppo and Samsung.
In keeping with the report, Vingroup Co is all in favour of taking up LG’s smartphone enterprise within the US and an acquisition would push Vingroup Co to a world presence. LG is reportedly all in favour of promoting its smartphone enterprise “piece by piece” as promoting off your entire factor would show to be very tough.
Not too long ago, LG despatched an internal memo that foreshadowed imminent main adjustments to the cellular division together with “sale, withdrawal, and downsizing of the smartphone enterprise.” This doesn’t bode properly for the corporate’s recently teased LG Rollable with advertising and marketing date set for this yr. The LG Rollable’ s future is now unsure with this week’s information.