The LG Electronics intends to curtail the production of smartphones in South Korea, Reuters reported. 

According to the source, the production is expected to be transferred to the company's plant in Vietnam.

LG also makes smartphones in China, Brazil and India.

LG management plans to fire some employees and transfer them to other objects.

The company's division responsible for smartphones fixes the balance of payments deficit for 16 quarters in a row, the accumulated amount of which reached 3 trillion won, or $ 2.5 billion.