It seems that LG just does not want to admit the truthfulness of the information that the company intends to close or sell its business for the production of smartphones.
Last week it was reported that LG Electronics would close its smartphone business, and the announcement would be made on January 26th. LG’s head of public relations, Ken Hong, said these were just rumors.
Now, the CEO of the company has actually confirmed the rumors, saying that there will be major changes in the work of the mobile division. Kwon Bong-seok immediately added that employees shouldn’t worry about losing their jobs.
Regardless of any changes that occur in the smartphone division, all employees will keep their jobs, so there is no cause for concern. As the competition in the global mobile device market becomes fiercer, it’s time for LG to make a cold decision and make a better choice. The company is considering all possible measures, including the sale, closure and reduction of the smartphone business.
Kwon Bong Sok
LG’s mobile division has amassed a loss of $ 4.5 billion over the past five years, while other divisions have posted solid financials and broke record after record.
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