LG says reports of a TV business exit are completely ‘baseless’ (Updated)

Source: Android Authority

C. Scott Brown / Android Authority

TL;DR

• A new report claimed that LG is discussing selling its TV business to Hisense.
• The report said the move was being considered because of weak profits and growing competition from Chinese TV brands.
• LG has now strongly denied these claims, calling them “entirely speculative and misleading.”

Update (May 28 2026, 7:28 AM ET)

LG has strongly denied the report that it is shutting down its television business or selling it to Hisense.

In a statement shared with Android Authority, the company said:

LG Electronics would like to state that this news regarding the potential sale of its TV business is completely baseless and therefore entirely speculative and misleading.

The original EBN report that sparked the speculation has since been removed from the publication’s website, with no explanation provided.

Original article (May 28 2026, 12:36 AM ET)

LG may be preparing for another major exit from consumer tech. According to Korean outlet EBN, the company recently discussed restructuring plans for its TV business with Chinese electronics giant Hisense, including the possibility of a full sale.

The report claims LG executives traveled to Beijing and met with senior Hisense officials to discuss the future of LG TVs. Neither company has confirmed a deal, so the claims cannot be validated at this time.

Background

• LG’s TV heritage: LG’s TV roots date back to 1966, when its predecessor GoldStar launched Korea’s first black‑and‑white TV. An exit would end nearly 60 years of TV manufacturing history.
• Previous divestments: In 2021, LG shut down its smartphone business, citing a focus on more profitable areas such as EV components, smart homes, and robotics.
• Market pressure: Sony recently sold a majority stake in its TV business to TCL. According to market‑research firm Omdia, TCL and Hisense now hold global TV shipment shares of 14 % and 12.5 % respectively, increasing pressure on brands like LG and Samsung.

Potential future focus

Even if LG steps back from manufacturing TVs, it could remain active in the entertainment ecosystem by concentrating on its webOS platform and software services for monitors, automotive systems, and smart displays rather than building TVs itself.