LG Electronics Inc. could close their mobile communications business instead of selling it, reports DongA Ilbo, citing a stranger in the e-commerce industry.
Negotiations with Germany’s Volkswagen AG and Vietnam’s Vingroup JSC about possible sales of the smartphone business appeared to have failed, according to the report.
LG Electronics’ chief executive said in January all options were on the job loss table.
The company reportedly suspended the construction of phones last month with a rollable display, and DongA on Sunday said LG had set a planned release for the first half of all new smartphones.
LG could share its decision on the outcome of the business with employees as soon as possible in early April, DongA reported.