Following LG Electronics' announcement on Wednesday that it is reviewing future plans for its unprofitable mobile business, including a disposal, attention is drawing towards potential candidates for the takeover.

According to industry sources on Thursday, some of the candidates being named are Google, Facebook, Volkswagen and Vietnam's Vingroup Joint Stock Company.

While LG's more than 30 years of experience in smartphones and technological capacity may be attractive to potential buyers, the takeover itself may not be feasible considering the company's one to two-percent global market share.

The price for the takeover would be another burden for the potential buyers, considering it had a workforce of three-thousand and made four trillion won in sales last year.

Some observers say LG will for now focus on reducing the size of and reorganizing its mobile business unit, and prepare for a takeover in the mid- to long-term. Others forecast the company could seek a split sale of overseas assets and intellectual property rights.

LG's mobile business has been in the red since the second quarter of 2015, with its accumulated operating loss reaching around five trillion won as of last year.