LG may be on its way out

LG is failing its smart phone business and reports have revealed that LG may be on its way out from the smartphone industry.

LG is not alone in the competition of smart phones while there are so many other top brands including Samsung, Apple, Huawei, Xiaomi, Oppo etc. to compete the sales margin. For over a year LG has been in loss, with no good news in terms of sales or brand.

LG’s smartphones were found with hardware issues and it has not proven being distinct.

Some reports leaked the rumours of LG leaving and selling to some other which the company had specifically denied. Now reports revealed that negotiations are underway with few companies. One of these is Vingroup (Vietnamese conglomerate).

Vingroup is a large group with almost 14% of capitalization in the Vietnamese market. It is working in diverse business areas, including tourism, automobiles, real estate, construction and mobile phones. 

If deal of LG and Vingroup succeeds, it might have effects on its business in the US. Other terms like taking over occurs in single instant or steps is also yet to be revealed.