LG might sell its TV business to a big Chinese electronics manufacturer

LG may be done making TVs after nearly 60 years in the business, and it's reportedly in talks to sell the division to Chinese electronics giant Hisense.

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According to reports from Korean outlet EBN, LG is exploring the possibility of restructuring or even selling its TV business due to weak profits and increasing competition from Chinese brands.

If LG goes through the sale of its TV business it would mark a major departure from the TV market, and yet another industry that LG has left after establishing a healthy presence for many years. For those wondering, LG shut down its smartphone business in 2021.

Despite LG's dominance in the OLED TV space, including a 60% market share in TV shipments in Q1 2023, the company is reportedly rethinking its long-term strategy. While LG recently celebrated 11 years of OLED innovation and continues to promote its 2026 lineup, the financial outlook for its TV business appears concerning.

If the deal with Hisense moves forward, it would signal a dramatic shift in one of consumer electronics' most recognizable brands, especially in the TV space. What happens next remains unclear. If LG exits the TV market, it would leave a major void in the premium segment, especially for OLED and ultra-large format TVs, which LG dominates.

However, it isn't totally unusual, as Sony also recently sold a majority stake in its TV business to TCL, which is also growing in popularity tremendously alongside Hisense. Furthermore, TCL and Hisense currently hold around 14% and 15% of the TV market, respectively.