WuXi AppTec Stock Surges on Strong Q1 Earnings and CRDMO Demand Growth 
Gold Prices Hold Steady as Iran War and Interest Rate Outlook Weigh on Markets 
Microsoft Azure Growth Forecast Beats Expectations Amid Rising AI Competition 
US-Iran Conflict Escalates Amid Oil Blockade and Rising Global Tensions 
AstraZeneca Q1 2026 Earnings Surge on Strong Oncology and Rare Disease Drug Sales 
Oil Prices Fall as Iran Proposes New Deal Amid Ongoing U.S. Tensions 
GameStop Eyes eBay Acquisition as Stock Prices Surge After Hours 
AI Stocks Rally in Asia as Oil Surge and Hawkish Central Banks Shake Global Markets 
Standard Chartered Q1 Profit Hits Record on Wealth and Investment Banking Growth 
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings 
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement 
China’s Ultra-Cheap EV Boom: Why Electric Cars Cost Far Less Than in the U.S. 
Oil Prices Ease but Remain Set for Strong April Gains Amid Middle East Tensions 
Markets Stay Strong Despite Oil Shock Concerns as Earnings Drive Investor Confidence 
Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand 
Australia Targets Meta, Google, and TikTok With New News Payment Tax Proposal 
LG Electronics was trying to sell its smartphone plants to Vingroup, a Vietnamese conglomerate, but the talks failed. It was reported that the main reason for the collapse of the negotiations was the price.
LG and Vingroup’s failed deal
As per The Korea Times, LG Electronics can’t accept Vingroup’s offer because it was too low from what it wanted. The failed deal was revealed by an official on Monday, Feb. 22.
"LG had been negotiating with Vingroup to sell its smartphone-manufacturing facilities in Vietnam and Brazil, however, the discussions recently collapsed mostly due to the price difference," he said.
The South Korean tech company is selling its mobile phone facilities stationed in Brazil and Vietnam as the plants are only adding to the company’s expenses when the sales from smartphones have been low in recent years. Moreover, with the increasing deficits in the last few years, LG put its smartphone division up for sale to be able to focus on other business areas like the parts for electric vehicles.
Vingroup was said to be the right bidder in the LG Mobile deal since it is aiming to expand its tech arm. However, with the failed talks, LG and Vingroup will no longer have another negotiation meeting. At this point, the South Korean tech firm has now set out to find a new potential buyer.
"With Vingroup offering a lower price than expected, LG will move on to find another buyer,” the insider further stated. “The company's smartphone production lines overseas such as in Vietnam and Brazil can be realigned to manufacture home appliances."
The sale of LG Mobile
LG Electronics revealed its plan to stop its mobile phone business last month, and even if the company tried other options to continue producing smartphones, it did not ditch its intention to sell. So, when interested parties came forward, talks pushed through.
Business Korea reported that Vingroup gave the most attractive offer among the firms that expressed interest to buy LG’s mobile division. However, it appears to be not enough when the two camps actually started to negotiate. Meanwhile, as the company is selling its smartphone business, LG discarded its original plan to launch a "rollable" smartphone that was introduced at the recent 2021 Consumer Electronics Show.
