South Korean multinational electronics company, LG Electronics has officially decided to close down its mobile communication division of its smartphone business instead of selling it.
“LG Electronics has reviewed the divisional sale, sale, and withdrawal, but it has recently confirmed its internal policy with the withdrawal.” An industry insider said.
According to sources familiar with the details, LG Electronics has confirmed the “complete closure” of the smartphone business unit and has begun converting employees from that division to the business unit.
The move comes a few months after LG announced that it would be fully evaluating the smartphone business and taunted selling the business. However, according to reports, negotiations with potential buyers were not successful.
BREAKING
LG Electronics' complete withdrawal of smartphones
Please refer article for details: https://t.co/pB6dZGovtTOfficial statement is expected at April 5th, Monday, Korea time. https://t.co/ughOetJAvX
— 来自首尔的Tron (@FrontTron) April 1, 2021
