A few days ago, a rumor began to circulate that the Korean manufacturer LG planned to sell its smartphone division, after accumulating some losses of $ 4.500 million in the last 5 years. Like a year earlier, a company spokesperson denied that news.
The medium that released the news, The Elec, stated that the Korean company has sent a message to all its employees in which it communicates that will announce the sale at the end of the month and that all workers must stop all their developments except the roll-up smartphone that was announced at the past CES.
The guys from Android Police contacted the global LG spokesperson to confirm or deny the news. According to Hong that leak was'completely false and without foundationBesides affirming the economic health of the company was good. Shortly afterwards The Elec withdrew the news. However, the soap opera does not end there.
The latest news related to this soap opera comes from The Korea Herald. According to this medium, the company has sent a memorandum to its employees signed by CEO Kwon Bong-seok in which he states that
Regardless of any change in the direction of the smartphone business, employment will remain so there is no need to worry.
In a statement from the LG spokesperson to The Verge, the company stated that that memo is legitimate, and that LG was considering selling, downsizing or withdrawing from the smartphone market.
Vingroup interested in buying LG
The latest news related to the possible sale of LG can be found in BusinessKorea. According to this medium, the Vietnamese conglomerate Vingroup Co (company bought the Spanish brand BQ to abandon it to its fate), is the main candidate to buy LG's smartphone business.
Vingroup Co accounts for 15% of the market capitalization in Vietnam and is currently the third largest smartphone maker in Vietnam, behind Samsung and Oppo. The main motivation of this group is market share currently held by LG in the United States, the 12,5%.
With the purchase of LG, Vingroup could easily enter the US market, a market that Samsung and Apple are practically divided equally and where we also find Motorola and LG, the latter to a much lesser extent.
