SEOUL/HO CHI MINH CITY -- LG Electronics will halt smartphone production in South Korea, putting the future of the second-tier smartphone brand in question amid a shrinking market and heated competition from Chinese companies.
The electronics maker known for its latest bendable screen said Thursday it plans to move its high-end smartphone production from a plant in Pyeongtaek, on the outskirts of Seoul, to a factory in Hai Phong, in northern Vietnam. This is aimed at turning around its loss-making smartphone unit.
