LG suspends smartphone manufacturing in Korea, shifts to Vietnam
According to a recent Reuters report, LG’s smartphone manufacturing is at loss. In order to work around it, the report claims that the company has decided to suspend mobile phone production in South Korea, its home country, and, instead, shift manufacturing to its other plant, in Vietnam.
Reuters is citing the Yonhap News Agency, which, in turn, is citing an unnamed source claiming that LG made the decision to shift manufacturing to Vietnam in order to combat the loss its Korean manufacturing was recording.
While LG has not commented on the matter as of the moment of this article, the report mentions that LG is manufacturing only high-end smartphones in its Korean facilities, accounting for 10-20 percent of its total smartphone output. In addition to those, LG also has production in China, Vietnam, Brazil and India