The hot rumor is that LG is in talks with Siemens over purchasing Siemens’ money losing mobile unit. MobileTracker reported earlier this week that Siemens was looking to either sell or kill its handset division. If LG purchased Siemens mobile, it may be enough for LG to become the third largest mobile phone maker.

Siemens has will announce its plan for the business at the upcoming shareholders meeting on January 27.

Update: LG is denying this rumor.

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