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LG Electronics's plan to sell its mobile phone business to vingroup failed because its offer was lower than expected

via:CnBeta     time:2021/2/23 18:39:56     readed:78

According to foreign media reports, the recent negotiation between LG Electronics and vingroup, a Vietnamese conglomerate, ended in failure because the offer offered by vingroup was lower than LG Electronics expected. On Monday, people familiar with the matter said LG Electronics had tried to sell its smartphone factory to vingroup, but the negotiations failed, mainly because of the price.

It is understood that LG Electronics will sell its mobile phone factories in Brazil and Vietnam, which have increased the company's spending in recent years in the face of sluggish smartphone sales.

After LG Electronics announced the sale of its mobile phone business, vingroup was considered a "suitable bidder" for the acquisition of LG Electronics's mobile phone business, as the company has been seeking to expand into high-tech industries. If the negotiations are successful, vingroup will be able to take advantage of LG's reputation, innovation and sales network.

In addition, among the companies that have expressed interest in acquiring LG's mobile phone business, vingroup has offered the most attractive offer.

However, the people familiar with the matter said that as the price offered by vingroup was lower than expected, LG Electronics would no longer negotiate with vingroup and would look for new buyers.

In addition, the company is a leader in 4G LTE and 5g patents. According to the data of a patent consulting company in the United States, the company won the most LTE and LTE advanced patents in the United States for five consecutive years from 2012 to 2016. (Fox)

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