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LG Electronics Inc. may close its mobile business instead of selling it, DongA Ilbo reports, citing an unidentified person in the electronics industry.
Negotiations with German Volkswagen AG and Vietnamese Vingroup JSC over the possible sale of the smartphone business appeared to have failed, according to the report.
CEO of LG Electronics said in January that all options were on the table for the loss-making operation. It was said that the company had Last month, it stopped developing mobile phones, and DongA said on Sunday that LG had filed a planned launch for the first half of all new smartphones.
LG can share its decision on the company’s fate with employees as early as April, the DongA report said.