LG Electronics sold the business to produce set-top boxes for $ 50 million
Sources report that LG Electronics sold the business on manufacture of set-top boxes of the French company Technicolor SA.
The transaction value amounted to $ 50 million. It is expected that the sale of this direction will help LG to alleviate problems associated with direction for the production of smartphones.
In addition, the market for set-top boxes continues to decline from 2015, when it reached 290 million units. The reason lies in the increasing dissemination of smart TVs.
The source also notes that in 2015 the same year to sell the same line of business like and Samsung. Then a potential buyer was investment Fund Carlyle Group, but the deal never took place.