A few days ago a very interesting rumor spoke of the high probability that LG was evaluating the sale of the mobile branch, a news promptly denied by a top executive but which, obviously, considering the evolution of these hours, it was not so far from the truth.
Indeed, as reported by The Korea Herald, CEO Kwon Bong-seok sent a note to the staff stating that "the time has come for LG to make an important decision". Years of poor sales weigh on Pointing out a fierce competition on the mobile branch, perhaps on which even a poor commercial strategy has weighed despite having tried with the launch of LG Wing, the CEO is considering "the sale, withdrawal and downsizing of the mobile branch."
The note certainly does not leave us speechless, after all the South Korean company has been guilty for some time now of not knowing how to offer competitive products on the market, which has led to an economic decline now under everyone's eyes. Kwon Bong-seok also announces that 60% of the workforce engaged in the smartphone branch will be diverted to other businesses in which LG is engaged, but does not specify what will happen to the workers who are part of the remaining 40%.
In this way, the plans of Bong-seok go up in smoke, which, after taking the reins of the mobile branch in 2020, had promised to bring the company back to being profitable again by 2021.
Will LG be able to recover (or change its mind) or will it go against this ugly fate? Let me know in the comments
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