LG mobile is Shutting Down – Life’s Not Good

LG Electronics is considering to end its mobile business rather than to sell its operations.

According to Bloomberg, this comes after failed negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC on possible sale of the smartphone business unit.

The beginning of January this year, LG Electronics’ CEO Kwon Bong-eok had said all options were on the table for the loss-making operation.

The report adds, the company last month halted the development of phones with a rollable display, and had shelved a planned first-half rollout of all new smartphones.

The company promised to share its decision on the mobile business with the staff in April, the report states.

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