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LG planning to sell its phone manufacturing to Vietnam

Written by Petteri Pyyny @ 21 Jan 2021 10:07 User comments (2)

LG planning to sell its phone manufacturing to Vietnam According to Korean sources, electronics giant LG is planning to sell its phone manufacturing division to Vietnamese conglomerate Vingroup.
LG's phone business has been making losses for some time now and company has announced plans to restructure its operations. If the proposed deal happens, LG would retain its phone R&D and outsource the actual manufacturing to Vingroup's facilities. LG currently has phone manufacturing facilities in Vietnam, China and Brazil.

The outsourced model for phone manufacturing wouldn't be a very big shock to anyone - after all, companies like Apple have oputsourced their phone manufacturing to third party operators years ago.

Vietnamese government is supporting the deal, hoping it would expand country's high-tech sector significantly. The deal hasn't been approved yet, but according to Korean sources, it seems likely to happen.

Tags: Vietnam LG
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2 user comments

121.1.2021 12:00

You know things are bad when Korea out sources their work.

222.1.2021 04:44

Originally posted by The_Fatguy:
You know things are bad when Korea out sources their work.
NBot really. South Korea is one of the richest countries in the world. Somewhere around the same level as Italy is.

Petteri Pyyny (pyyny@twitter)
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