SEOUL, July 16 (Korea Bizwire) — With its exit from a loss-making mobile business scheduled to be formalized on July 31, LG Electronics Inc. recently completed the task of reassigning employees from the mobile communications (MC) business unit, a process that began in April. According to LG Group, the parent of South Korean tech powerhouse, [...]
SEOUL, April 5 (Korea Bizwire) — Leaving its ill-fated mobile business behind, LG Electronics Inc., South Korea’s No. 2 tech firm, will zero in on bolstering promising sectors, like vehicle components, connected devices and artificial intelligence (AI), industry observers said Monday, hoping that the segments will fill the hole left by its money-losing unit. LG [...]
SEOUL, April 5 (Korea Bizwire) – LG Electronics Inc.’s withdrawal from the mobile business is likely to help its bigger rivals such as Samsung Electronics Co. expand their presence in the sector at home and abroad, industry observers said Monday, as there are limited alternatives for local consumers. After years of money-losing performance, LG said [...]
SEOUL, April 5 (Korea Bizwire) — LG Electronics Inc. said Monday it will withdraw from the mobile business after years of money-losing performance amid intensifying competition with bigger rivals. The South Korean tech powerhouse said in a regulatory filing that its mobile communications (MC) unit will no longer produce and sell handsets after July 31, [...]
SEOUL, Jan. 23 (Korea Bizwire) — LG Electronics Inc. can improve its corporate value by restructuring its money-losing mobile business, analysts here said Saturday, as the South Korean tech giant can better focus on its future growth engines for the post-pandemic era. LG Electronics on Wednesday announced that its mobile communications (MC) unit is open [...]
SEOUL, Jan. 20 (Korea Bizwire) — LG Electronics Inc., the country’s major home appliance maker, said Wednesday its mobile business is open to “every possibility” amid rumors that the South Korean tech giant may sell its money-losing unit. LG said the company has come to a point where it needs to make the best decision [...]
SEOUL, May 19 (Korea Bizwire) — Samsung Electronics Co.’s mobile business may benefit from the recent U.S. ban on Chinese tech giant Huawei Technologies Co., analysts here said Tuesday, amid its efforts to recover from the fallout from the novel coronavirus pandemic. The United States recently announced that it will block foreign chipmakers using American [...]