Google rumored to be interested in buying a part of LG

Google logoA very interesting rumor has been making its way online recently: tech giant Google might be interested in acquiring a part of electronics manufacturer LG.

Apparently, LG has been struggling to keep its business afloat lately, and this is no news. The company’s latest G4 flagship didn’t exactly bring the wow factor to the table and LG has seen disappointing sales for the product.

And now, the latest info coming out of Asia is saying that Google itself might be interested in purchasing a stake into the company.

According to industry sources, Google was said to be interested in paying up $2.15 / €1.96 billion for a 35% stake in LG Electronics via a block deal. A few days after the rumor started spreading online, an LG spokesperson quickly denied it saying that it was “just too preposterous to mention,” as reported by Business Korea.

The thing is, most shares in the company are owned by individual shareholders, except for the holding company and the National Pension Service, so a 35% block deal wouldn’t really fit into the cards.

Even so, the company’s situation is currently at a turning point. LG has been seeing slow demand for its G4 flagship, as we mentioned above, but also for its smart TV products. This poor performance has translated into a 50% sales decrease year-over-year.

Google and LG are no strangers to each other. The two companies have collaborated several times in the past in order to build Nexus devices, both tablets and smartphones. Actually, later this year, LG is expected to roll out the 2015 version of the Nexus 5.

On top of that, LG has signed a partnership agreement with Google for its premium “OLED TV” initiative, thus expanding things into a new direction.

All of these seem like good reasons for which Google might actually be interested in purchasing a stake in LG. This tidbit also makes sense to some officials from the industry.

“With LG Electronics’ business slump plausibly meshing with recently-strengthened cooperation with Google in the smart car sector, the rumor is spreading in a flash,” one such official was quoted as saying.

After seeing Microsoft acquire Nokia and Lenovo buying Motorola, we shouldn’t be that shocked if Google does eventually decide to acquire a big part of LG.

Source: Softpedia

Tags: Google, LG, OLED, smartphones

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)