LG denies rumors of withdrawing from the smartphone market.

Recently, there have been reports suggesting that LG Mobile will withdraw from the Vietnamese market due to business difficulties. LG has now officially responded to this issue.

Speaking to reporters, Mr. Kim Young Lak, General Director of LG Vietnam, said that rumors about LG Mobile withdrawing from the Vietnamese market are inaccurate, and the company remains committed to bringing new smartphone products to the Vietnamese market in the near future.

Regarding its mobile business (LG Mobile), at the end of the second quarter, LG sold 13.9 million smartphones globally, a slight increase of 3% compared to the previous quarter, with sales reaching $2.86 billion. This shows that LG's smartphone business is still growing.

Regarding LG Mobile Vietnam, Mr. Kim Young Lak stated that the company has recently been undergoing a restructuring process. In fact, this is also a general strategy for LG Mobile globally, as the company launched its Program Management Office (PMO) program in early July to significantly improve its mobile management division.

In this arrangement, Cho Juno, the head of the mobile phone division, will oversee the overall operation of the department, while Oh Hyung-hoon will be the direct manager, implementing product development, manufacturing, marketing, and sales strategies for LG in international markets with the support of the mobile division president, Ha Jeong-wook.

This move by LG is seen as an attempt to further enhance the brand image of its smartphones, while also catching up with its domestic rival, Samsung.

Mr. Kim Young Lak also affirmed that in the near future, LG's high-end smartphone lines, when launched, will soon be available in the Vietnamese market, and the company will restructure its mobile distribution segment.

It's worth noting that, except for LG's struggling smartphone business, other LG product lines are thriving. Estimated total revenue for the second quarter of 2016 reached $12.05 billion. Of this, the most profitable segment was the Home Appliance & Air Solution business (washing machines, refrigerators, microwaves, air conditioners, etc.), with total revenue reaching $4.04 billion, an increase of nearly 5% compared to the same period last year.

LG's Home Entertainment division (4K TVs, OLED TVs, home entertainment devices, etc.) also achieved a new record high in revenue, bringing in $3.58 billion, a 5.7% increase compared to the same period last year.

According to Thanh Nien newspaper.