LG Electronics ending production and sales of loss-making smartphone division

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Mon, 2021-04-05 05:16

SEOUL: South Korea’s LG Electronics Inc. said on Monday it will end production and sales of its loss-making smartphone division.
LG had announced in January it was considering all options for the business after logging nearly six years of losses totalling some $4.5 billion.
Talks to sell part of the business to Vietnam’s Vingroup fell through due to differences about terms, sources with knowledge of the matter have said.

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