LG Electronics still seems to have decided to withdraw from the smartphone business. As a result, the company enters a transitional period in which it will redirect employees from its mobile division to its other units. The data come from familiar sources, quoted by The Korea Times, and confirm the rumors that appeared some time ago that such a move is being considered, Mobile Bulgaria reports.
Other options included selling the unit, but negotiations failed. The official announcement of the company’s decision is expected to take place on April 5. At this stage, LG declined to comment, saying they were considering all options.
The possibility of LG leaving the mobile business was discussed at the beginning of the year, when the CEO of LG Electronics admitted that the company was assessing the future of the mobile division and considering all possibilities.
Meanwhile, the pandemic has led to significant revenue growth from LG’s home appliances and TVs, and the company has been expanding its presence in other sectors such as electric car components for some time.
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