Kim Young Lak, CEO LG Electronics Vietnam, on Wednesday rejected reports in the local media that LG Mobile would stop selling smartphones through its official distribution channels in Viet Nam. — VNS Photo

HA NOI (Biz Hub) — Kim Young Lak, CEO LG Electronics Vietnam, on Wednesday rejected reports in the local media that LG Mobile would stop selling smartphones through its official distribution channels in Viet Nam.

Kim affirmed that LG Mobile still continues to distribute its mobile products for the Vietnamese market through its strategic business partners.

Kim told local media persons that they can could have confirmed whether the reports were accurate, since Viet Nam was one of the key markets at the moment. In addition, LG Mobile Communications also saw a revenue growth of 3.33 trillion won (US$2.86 billion), up 12 per cent compared with the first quarter this year globally. Sales revenue also rose 3 per cent against the previous quarter with 13.9 million smartphones sold in the second quarter this year.

He noted, however, that sales revenue was made globally and it needed greater efforts to gain higher sales revenues.

The CEO said LG Mobile in Viet Nam was undergoing a restructuring process with a new strategy from its global team. While its core value was to make things better, it recognised that it was time to make a drastic change in the production process and it was also a way to bring its products to consumers. As a result, this can lead to a misunderstanding in the facts.

Regarding the LG mobile segment in business strategy in the future in Viet Nam, Kim said LG's core value is still focussing on the interest of local customers. In the near future, LG Mobile Communications will distribute LG mobile products in Viet Nam through its strategic partners. Meanwhile, LG Vietnam still performs its role to manage sales revenues, marketing and after-sales services.

He said the restructuring process is not a new method in the mobile market and they saw that it fit with LG's business performance at this time, while noting that Vietnamese customers have the opportunity to purchase new LG mobile devices at the same time with other markets globally or at even better prices. This restructuring process is expected to improve the business performance of LG Mobile in the Viet Nam market, Kim said. — VNS