LG Electronics Inc. could shutter its mobile communication business reasonably than promote it, DongA Ilbo stories, citing an unidentified particular person within the electronics business.
Negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC on a potential sale of the smartphone business appeared to have failed, in line with the report.
LG Electronics’ CEO mentioned in January that every one choices had been on the desk for the loss-making operation.
The firm was mentioned to have halted growth final month of telephones with a rollable show, and DongA mentioned Sunday that LG has shelved a deliberate first-half rollout of all new smartphones.
LG could share its determination on the business’ destiny with staff as quickly as early April, the DongA report mentioned.