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LG is having trouble selling its mobile division to the same group that bought BQ


LG and Vingroup move away their positions due to economic differences, and LG is already considering looking for other buyers for its mobile division.

Despite the siren songs around the LG Rollable, the most advanced rollable smartphone model in its development, it seems that South Koreans are not overly convinced of their continuity in the mobile industry, and it is that to its strategic changes announced at the end of 2020 it now joins the possibility of the sale of LG Mobile to a Vietnamese group.

In fact, there is talk that LG could directly exit the smartphone market in the event that negotiations with the Vietnamese conglomerate Vingroup They will not bear fruit after the last differences between both companies.

LG Wing unfolded screen

The LG Wing, one of the biggest “innovations” of 2020.

Yes effectively Vingroup must sound to you, and it is that it is the company behind the very inexpensive VSmart mobiles that were sold fleetingly in Spain, and that then effectively also bought BQ to let it die later in the ostracism of an industry that eats those who are arrested.

Everything seems to indicate that the return offered by the Spanish firm did not satisfy the owners of Vingroup too much, who They are now considering the purchase of a brand with more excellence in the industry such as LG, facing an investment that allows them to enter this complicated market with part of the road already traveled.

After buying BQ, Vingroup wants another trophy: it wants LG's mobile division

Vingroup and LG have already started talks, but the deal seems far off for now.

South Korean sources, Korea Times for example, from which the information released by Android Central also draws, point out that LG would still be looking for buyers for its mobile division, and although the agreement with Vingroup seemed the closest, the differences have become more evident with the Vietnamese as the negotiations progressed.

Some even dare to affirm that the conversations between Vingroup and LG would be completely broken for important details of the operation, among which would be the inclusion or not of LG factories in Vietnam and Brazil, as well as the high price of the operation that Vingroup would not be willing to assume in any case.

Most likely, according to sources close to LG itself, is that South Korean manufacturer find another buyer for LG Mobile, although to make the operation cheaper they did not include its factories abroad, which could be dedicated to the manufacture of electrodometrics and other products.

LG Mobile has a high price that Vingroup is not willing to assume even including the factories in Brazil and Vietnam, so according to South Korean media LG could be studying looking for other buyers or simply stop making smartphones and focus on other markets.

LG Rollable, on video at CES 2021

This would be LG's first roll-up mobile, and surely the first to hit the market.

In fact, they even complete this information by explaining the flexibility of LG's business and also of its facilities, that simply would allow the South Korean company to stop making smartphones realigning its plants to assemble other products, whether a buyer for the mobile division is finally found or not.

Regarding the LG Rollable, we can tell you that the published reports would align with the possibility of LG canceling the project indefinitely, although manufacturer spokesmen have categorically denied this suspension and the industry is still awaiting both LG's first roller and the successor to the V60 ThinQ which is also in limbo for now.

It certainly wouldn't be too good news lose an electronics giant like LG in the market, which in recent years had not hit the key but He had already shown us that he knows how to make smartphones of the highest quality, including the first with a 3D panel, the first with a flexible OLED panel or the first modular mobile ... What do you think of the news?

LG is considering leaving the smartphone industry

Related topics: LG, Mobiles