South Korea Electronics has decided to stop producing and sales of smart phones department that suffer losses.
According to Arab Net, LG announced in January they are studying all options for this activity, having a total loss of $ 4.5 billion over six years.
LG has suffered for the production of smart phones, where this unit has been struggled within the company to find a way to profitability, but at no avail, as its sales continues amid sharp competition.
DONGA ILBO report revealed LG Electronics plans to close its business in mobile communications instead of selling.
According to the report, negotiations with Volkswagen German, Vingroup Jsc Vietnamese on possible sales for smart phones appeared to have failed, according to Bloomberg.
The LG CEO said in January that all options were on losing operations.
As Sources told Bloomberg that the company stopped the development of folding television phones, Donga Ilbo NLG has stopped putting a plan in the first half of all new smart phones.
