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LG reportedly in advanced talks to sell off its smartphone business | UPD: New Report

25 January 2021 0

Update: January 25, 2021

A new report posing an uncertain future of the LG Rollable has emerged from the Korea Herald. Once again, the report states LG is planning a serious step for its smartphone business and its recently introduced Rollable phone may bear the brunt of it.

The report comes a day after a report from Business Korea stating LG is in talks with Vingroup of Vietnam to sell off its smartphone business came out. All these reports outline the doubtful future of LG’s smartphone business and the consequences that its ambitious projects will follow. Local industry sources have mentioned that LG may choose to abort its Rollable phone completely, not to repeat the failure of Wing, a 5G swivel phone with two displays.

Some industry sources believe that even if the Rollable fares better than the Wing, it may not able to deliver a “dramatic turnaround for LG,” as it may retail for over 2 million won, which is quite an expensive tag.

Original Post (January 22, 2021)

Many reports in the past had predicted LG’s exit from the smartphone market, but LG opposed all such reports. However, it appears, now is the time when LG will come out and announce what it has decided for its dying smartphone business.

A recent report posed a great hint at re-structuring of LG’s smartphone business and now a fresh report from of BusinessKorea adds more strength to all those reports that are still swirling around. According to the report, the Vietnamese conglomerate is reportedly in talks of buying the smartphone business from LG Electronics.

Vietnam’s Vingroup Co is a conglomerate that has a diverse portfolio of businesses, including industries dealing in hotels, cars, smartphones, real estate, and land development. It is also one of the ODMs that manufactures smartphones for LG.

The report claims the conglomerate has put an attractive deal in front of LG as it is pretty interested in taking over the latter’s smartphone business in the US. Reportedly, LG is only interested in selling its smartphone business “piece by piece,” because selling off the entire business may put a great difficulty ahead.

With more and more such reports are emerging, the future of LG Rollable and, in fact, all those innovations that LG has launched in the recent past look uncertain. Overall, it does not seem LG is all prepped up for a complete exit. It is possible it may sell half of its business dealing in affordable offerings in order to be fully engaged in some unique concepts.



LG reportedly in advanced talks to sell off its smartphone business | UPD: New Report
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