LG halts telephone manufacturing in South Korea for 2019, relocating to Vietnam

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LG’s newest premium telephone, the G8 ThinQ.


Angela Lang/CNET

LG is making some literal strikes. The South Korean electronics and telephone firm is relocating their cell manufacturing facility in South Korea for the yr, and focusing as a substitute on certainly one of its vegetation in Haiphong, Vietnam, in keeping with Reuters and first reported by South Korean information outlet Yonhap Information Company.

Although LG general is profiting, its cell division posted a $172 million loss within the second quarter of 2018. And whereas smartphone gross sales are down globally, issues are particularly troublesome for LG. Its final couple of flagship telephones did not take off, and it nonetheless should compete towards greater corporations like Samsung, Huawei and Apple, too.  

With the relocation, the corporate doesn’t plan to downsize its telephone enterprise, nonetheless. The transfer is to make LG “far more aggressive for the worldwide market,” stated LG senior director of worldwide company communications Ken Hong. “Korea will proceed to be the hub for smartphone R&D, design, high quality assurance, and so forth.”  

As reported by Reuters, the manufacturing unit in South Korea largely makes premium telephone fashions, which would come with gadgets just like the LG G8 ThinQ or the upcoming V50 ThinQ, and manufactures about 10% to 20% of LG’s whole smartphones. Along with South Korea and Vietnam, the corporate additionally has factories in China, Brazil and India.

Initially revealed April 24, 2:35 p.m. PT. 
Replace, April 25: Provides remark from LG.

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