Rumor: LG may sell its mobile business to Vietnamese conglomerate VinGroup

LG Electronics CEO Kwon Bong-Seok recently announced that the company may leave the mobile

business. Now the network has information about a possible buyer of the unit.

What is known

According to Business Korea, LG may sellbusiness to the Vietnamese conglomerate VinGroup. VinGroup is rumored to have made a tempting offer to LG and the company is likely to accept it. In case you didn't know, VinGroup is the third largest smartphone maker in the country after Samsung Electronics and OPPO. By the way, the Korean company has been cooperating with VinGroup for several years. It acts as an ODM for some LG models.

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Recall that LG's mobile business is in the redalready 23 quarters. The company tried to change this by releasing smartphones with new designs and unusual form factors, but they did not bring success. The latest project was the rollable smartphone LG Rollable, which was shown at CES 2021.

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