LG would be interested in selling its mobile division to the group that bought BQ

LG is one of the largest manufacturers of consumer electronics in Europe, although its mobile division is less and less relevant. So much so that a few days ago we learned of the statements of the current director of the mobile division, in which he declared that it was time to think with a cold mind.

Kwon said at the time that within the company they were evaluating all possibilities, from reducing investment in that division to more drastic measures such as closing that division or selling their business. business to a third company. And it looks like there would be a company with great interest that we already knew in Europe.

LG, on its mobile division: “It’s time to judge coldly”

LG’s mobile division could be facing its end. According to the head of the division, they are considering all possibilities for the future.

The Vietnamese group that bought BQ, interested in taking over LG

If we mention Vingroup, maybe it is a name that sounds familiar to you. In December 2018, a Vietnamese group took control of the Spanish company BQ, a brand that is now practically extinct.

According to Business Korea, the Vietnamese group has put on the table the most attractive offer among all companies interested in taking over LG’s mobile division, and it seems that the South Korean company is already talking about selling its mobile division.

The relationship between Vingroup and LG is not new, and it is that the Vietnamese group already made cellphones for LG under the ODM model. On the other hand, Vingroup’s main interest in acquiring LG would be encouraged by the company’s position in the American market, the only market in which LG continues to hold a significant market share, with 12.9% in the past. 2020.

Considering the fate of BQ, although Kwon assured his employees that no one would lose their jobs, the future of those who move to the Vietnamese company might not be so clear.