LG Electronics still seems determined to withdraw from the smartphone business. As a result, the company will move into a transition period during which it will redirect employees from the mobile department to other units. The information comes from familiar sources quoted by The Korea Times, and confirms rumors that appeared some time ago that such a transfer is being considered, Mobile Bulgaria says.
Other options were the sale of the unit, but negotiations failed. The official announcement of the company’s decision is expected on April 5th. At this point, LG declined to comment, saying it would consider all options.
The possibility of leaving LG’s mobile business was discussed earlier in the year when the CEO of LG Electronics acknowledged that the company was assessing the future of the mobile division and considering all options.
At the same time, the pandemic has led to significant revenue growth from LG home appliances and televisions, and the company has been expanding its presence in other sectors for some time, such as electric car parts.