LG’s smartphone business has been in trouble for quite some time. And last year, the Korean brand decided to do a major overhaul for its product lines, focusing on the low-end segment instead of the more expensive segment.
Despite breakthroughs on new devices, but, LG still cannot revive its “hurting” smartphone segment. There have been many rumors about the company’s demise in the smartphone sector. Recent information revealed that LG will “kill” its smartphone division and is said to be in talks with Vingroup on the deal related to the acquisition.
This is quite strange because LG just showed off its LG Rollable smartphones at CES 2021 a few days ago. Some sources revealed, this device will be launched in September this year with a list price of 2,560 USD (equivalent to 59 million VND). However, with the information “selling itself” recently, it seems that this smartphone may never be revealed.
According to information from the Korea Herald, the plan to launch LG Rollable has not been decided yet. A few days ago, LG made a rather dumb statement that “opens all possibilities”. Now, the possibilities may not be possible. The company’s CEO is considering killing the mobile division and appears to be in talks with other companies about acquisitions of the business, including Vingroup. Up to now, LG has achieved very good results in other divisions, but the smartphone business is still in the deep sea.
Estimated, LG’s mobile division has lost about 723 million USD in the whole year 2020. And if calculated from 2015 until now, this figure has reached 4.5 billion USD. Even if LG is lucky enough to see the light at the end of the tunnel, it is highly likely that they will “squeeze” the LG Rollable smartphone and focus on popular devices. Obviously, it’s a good way for them to continue developing smartphones.
Minh Hung according to GizChina