Siemens in talks to sell its mobile phones division to LG Electronics
According to Technology AFP the giant German industrial conglomerate Siemens is in talks to sell its loss-making mobile phones division to LG Electronics. The options, which Siemens has, include restructuring, sale, cooperation or complete shutdown. As it was previously written Siemens is scheduled to unveil its plan for the business at the upcoming shareholders meeting on January 27. Chinese firm Ningbo Bird and Japanese group NEC have been mooted in the press as possible joint venture partners.