We have been talking for several months about the future plans of the Korean firm LG, a firm that in January hinted that its future in the world of mobile telephony my days were numbered. A few days later, a rumor broke that pointed to Vingroup as one of the potential buyers.
Vingroup was the same company that a few years ago bought the Spanish company BQ and abandoned it to its fate, as well as all the users who had trusted it up to that moment. The latest news from Korea suggest that, in the absence of buyers, LG could close the mobile division.
LG's mobile business has been in the red since 2015 and today has accumulated more than $ 4.500 billion in losses. According to a source related to the company who has preferred not to reveal his name:
LG has reportedly had discussions with other companies about the sale of the unit, but it appears that negotiations have not progressed much. It seems that the sale of his entire mobile business seems difficult at the moment, as does the partial sale of the unit.
LG became the third largest smartphone manufacturer in the world, but with the arrival of Asian firms and the not being able to find a gap between Apple and Samsung, the company has been falling out of favor until the moment in which it currently stands.
The sale of the LG division does not include patents, since otherwise, many would be the companies that would be interested in taking over the intellectual property of the Korean company.
In addition, it would be an excellent option for any smartphone manufacturer who wants to enter the US market, a market where the company has a share of around 9%, although a few months ago it was 15%.
La LG market share in 2020 It was only 2% according to the guys from Counterpoint Research, being the ninth seller of phones in the world after selling 4,7 million smartphones, 13% less than in the same period of 2019.
