LG Doesn’t Want Motorola’s Handset Business Either
By Dianne See Morrison - Mon 11 Feb 2008 08:15 AM PST
Korean handset maker LG Electronics (SEO: 066570) doesn’t want Motorola’s handset business either, reports Dow Jones (via Cellular News). Indeed, LG Electronics CEO for mobile Skott Ahn said the company had “never looked to buy” their struggling American rival. Earlier, Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) CEO Hideki Komiyama said his company was not considering buying Motorola (NYSE: MOT).
When Motorola announced it was considering a sale or spinoff of its handset division, analysts noted that any buyer of it would be guaranteed the number one sales position in the US market, where Motorola is still in the lead. But while LG, which is the world’s fifth largest device market, said it would concentrate on the US market during its last earnings call, it apparently has no money to make such a purchase. LG didn’t give a reason why it didn’t want Motorola. In other news, Ahn said that touch-screens would be on more than half the new phones coming out within the next couple of years. LG debuted the KE850, a touch screen phone with fashion house Prada, at the same time the iPhone launched.
Posted in: Companies, Motorola, Countries, Asia, Korea
