wants LG's mobile division

Vingroup would be the best positioned to buy LG's mobile division.

As we already told you, the Korean manufacturer LG is considering abandoning the smartphone market after 6 consecutive years of losses and one of the ways to do so is by selling its mobile division.

Today we already know one of the possible buyers of LG's smartphone division: Vingroup, a Vietnamese group that a few years ago bought 51% of the capital of the Spanish manufacturer BQ.

LG Rollable, the manufacturer's first roller terminal that was presented at CES 2021

LG Rollable, the manufacturer's first roller terminal that was presented at CES 2021

Vingroup would be in a prime position to buy LG's smartphone division

The guys from Pocketnow have echoed a report published by the specialized medium Business Korea in which it is stated that the Vietnamese group Vingroup would be interested in acquiring LG's mobile division.

According to that same report, the CEO of LG, Kwon Bong-Seok, has sent a message to all his staff in which he informed them that there would be a major change in the operation of its mobile division.

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This important change referred to by the LG president may be sale, withdrawal or reduction of its mobile phone division and in any of these cases around the 60% of the employees in this section would be reassigned to other divisions or they would become part of the staff of any of LG's affiliates.

According to the report prepared by Bussiness Korea, LG has already received several offers from different business groups to buy its smartphone section and one of the best positioned for its purchase is Vingroup, the largest business conglomerate in Vietnam.

Vingroup is currently the third largest mobile phone producer in Vietnam after Samsung Electronics and OPPO and according to the Bussiness Korea report, he would be interested in buying LG's smartphone division to acquire the market share of the Korean manufacturer in the United States which is 12.9%.

The Vietnamese group is the best placed because it has presented the most competitive offer among all the companies that choose to buy the LG smartphone section.

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Everything seems to indicate that in a short period of time the Korean manufacturer is going to detach itself, one way or another, from its mobile division despite the fact that it recently presented its first roller terminal, the LG Rollable.