There have been a string of reports that LG is quitting the smartphone business or at least scaling it back. So far, each has been followed by the company denying such claims. Korean publication dongA adds another such report (citing an industry insider) and it sounds like the worst case scenario is the likely outcome.
LG was reportedly in talks with Vingroup as well as Volkswagen as potential buyers for the company’s mobile business. Negotiations on both fronts has failed, reports the publication – with around 1% global market, the asking price was just too high.
This leaves one option…
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