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Last January, LG announced that it was “studying all options” for this activity, after having recorded losses totaling about 4.5 billion dollars over nearly 6 years.
Informed sources said talks to sell part of LG to a Vietnamese company were stalled due to disagreements over terms.
The “LG” peaked in the smartphone market in the first half of 2013, when it ranked third behind “Samsung” and “Apple”.
But later, its flagship phones suffered unfortunate crashes, and with the software update slowing down, the brand fell a lot and analysts criticized the company for its lack of marketing experience compared to its competitors.
While “LG” currently ranks third in North America and fifth in Latin America in terms of market share, its global share does not exceed 2%. It shipped 23 million phones last year, compared to 256 million for “Samsung”.
Phones were the smallest of LG’s five divisions, accounting for just 7.4% of fourth-quarter revenue.
LG is expected to stick to its mobile phone technologies for use in the production of household appliances and electric vehicle components.
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