According to a statement, LG Electronics Inc may shut down its mobile communication business rather than selling it. This comes after speculation that their negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC, on possible sale of the smartphone business, seems to have failed.
In January LG Electronics’ CEO said that all options were on the table for the loss-making operation.
The company was said to have halted development of phones with a rollable display last month and on Sunday it was said that LG has shelved a planned first-half rollout of all new smartphones.
LG may share its decision on the fate of the business with its employees as soon as early April.