It was previously rumored that LG would sell its factory in Vietnam. LG Electronics issued a press release to refute rumors that it plans to change its smartphone production line in Haiphong, Vietnam to a home appliance production base.
LG Electronics (LG Electronics) Vietnam subsidiary issued a press release on April 20 to announce that it will carry out production line conversion and manpower reorganization within this year, and will subsequently announce additional investment plans.
Earlier there were reports that LG Electronics was trying to contact a Vietnamese company to sell its smartphone production plant. The announcement seemed to refute the rumor.
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The Haiphong smartphone factory in Vietnam was established in 2015 to produce smartphones, TVs, and home appliances for LG. In 2019, LG transferred the Korean smartphone production line to Vietnam, which can produce 10 million units per year.
Its subsidiaries such as LG Innotec and LG Display are also currently producing camera modules and displays in Haiphong, Vietnam. According to previous reports, LG Electronics will completely withdraw from the mobile phone business on July 31.
