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Cold-headed restructuring

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LG Electronics seeks to give up smartphone business

LG Electronics has begun the process of shedding its smartphone business unit, which has accumulated aggregated losses of 5 trillion won ($4.52 billion). "We have reached a moment to make the best decision concerning our mobile business by coolly weighing its present and future competitiveness," CEO Brian Kwon said in an email sent to employees. The management is reportedly examining various restructuring options such as selling it off, downsizing or shifting to original development manufacturing (ODM).

Rumors had been persisting........

© The Korea Times

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