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| LG could shut down the smartphone business instead of selling it |
LG could close its smartphone business instead of selling it, as negotiations with German Volkswagen and German company Vingroup JSC seem to have failed over the potential sales of the smartphone business.
Previously, there were reports that LG was negotiating the sale of its smartphone business, but progress in finding buyers is not going well and the smartphone business may have to close.
A company spokesperson previously said that LG's mobile phone business will not end soon. The opposite is true a few days before the publication of the new report. )
The company has high ambitions for 2021, including a drop-down phone that received Bluetooth SIG certification, but the phone appears to have been scrapped.
The new information also confirmed that the company may suspend the launch of all new phones in the first half of 2021.
In January, the CEO of LG announced that all loss plans were on the table.
According to reports, LG can share its decision on the fate of its business with its employees as soon as possible in early April.
The history of LG's smart phone division over the past few years has been marked by continuous setbacks and tragedies, and despite the company's continuous efforts to innovate and change things, it has failed to take advantage of its smart phone activities.
Usually the company makes headlines and tries to bring new things to the market with strange concepts like LG Wing. However, the point is that the smartphone sector is still losing money and efforts to change this trend are failing.
Shutdown - When completed, it will take a heavy toll on the Android ecosystem. Although LG has underperformed sales in recent years, it has been a major historic player in the Android ecosystem.
The company introduced premium phones such as the LG G2 and is also a manufacturer of other popular phones such as the Nexus 5, Nexus 5X, and Google Pixel 2 XL.