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LG has confirmed a memo to staff on the way forward for the cellular division.
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The memo reportedly claimed that “all possibilities are open” for the unit.
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Another outlet claimed {that a} Vietnamese agency is desirous about LG’s North American enterprise.
The final 5 years or so haven’t been variety to LG, because the agency recorded an extended string of loss-making quarters and misplaced market-share to rival producers. Now, it looks like the corporate is contemplating drastic measures.
According to ZDNet Korea and the nation’s Yonhap News outlet, LG Electronics CEO Bong-Seok Kwon despatched out an e mail to staff stating that “all possibilities are open” for the way forward for the smartphone enterprise.
“LG Electronics has come to the point where it is time to make the best choice by calmly judging its current and future competitiveness in the mobile business. Currently, all possibilities are open and the direction of business operation is carefully reviewed,” the CEO was quoted as saying by the shops. He reportedly added that “in principle,” members of the division will nonetheless be employed whatever the consequence.
An LG spokesperson confirmed to Android Authority that an e mail was certainly despatched out to staff, however clarified that there was no point out of a sale or lay-offs:
The inner memo was merely to handle (principally) native Korean rumors by informing staff that nothing had been determined but on the way forward for our cellular enterprise however that administration was retaining an open thoughts. To summarize, it stated: ‘LG Electronics management is committed to making whatever decision is necessary to resolve its mobile business challenges in 2021. As of today, nothing has been finalized.’
However, Korea’s NewsPim studies that Vietnam’s VinGroup — the mum or dad firm of nascent smartphone model VinSmart — is desirous about buying LG’s North American smartphone operations.
It’s believed that LG’s smartphone gross sales community, after-market assist heart, R&D heart staff, and Latin American manufacturing plant belonging to the US enterprise can be prime acquisition targets within the occasion of a deal.
North America is LG’s hottest market, with the agency taking third place within the US with 13% market-share in Q3 2020. So any firm selecting up the North American enterprise would theoretically have a powerful place within the area from the get-go.
VinSmart specifically is just about unknown exterior Vietnam, however the firm joined ZTE in being among the many first to supply telephones with under-display selfie cameras. More particularly, the VSmart Aris Pro packs a 20MP digital camera below the display.
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Source: Vietnam Insider