LG Will Not Sell Its TV Division: Rumors Denied by Official Statement

Among the many news items of the week, there was also space for a series of rumors related to a possible sale of LG Electronics' TV division, which has been one of the key players in the industry for years (especially with its OLED models).

LG Will Not Sell Its Division

The TV sector is grappling with increasing competition from Chinese brands, which are aiming to capture market leadership and are creating significant challenges for the Korean duo formed by Samsung and LG itself. It is worth noting that recently TCL surpassed Samsung in a historic shift.

Online rumors highlighted a potential negotiation between LG and Hisense concerning a possible restructuring of the Korean company's business in the TV market segment. Among the possible options on the table was also a sale of the entire division.

The news has been denied by LG, which issued the following statement: "LG Electronics wishes to clarify that the news regarding the potential sale of its TV division is completely unfounded and therefore entirely speculative and misleading."

This is a stance that leaves no room for interpretation. LG is not intending to sell its division dedicated to TV production and the development of related services. It is noteworthy that the report published by EBN, which revealed the existence of negotiations with Hisense, is no longer available online. LG's statement may have put an end to the matter.