LG will adopt the strategy that brands like Xiaomi and Oppo are applying: launch smartphones with 5G in the mid-range. The goal is to make the 5G no longer reserved for top of the range equipment and make it accessible to more users, at lower prices.
In South Korea, LG saw its sales rise slightly with the LG Velvet, whose processor is the Snapdragon 765G. However, its price of around 600 euros was a factor that disappointed fans of the brand. After all, it was still a medium-high range device with a high price.
We know that LG needs to improve its strategies to make the mobile department profitable, which continues to make a loss. LG continues here and every year we observe the brand’s behavior, although efforts continue to be fruitless.
Second quarter of 2020 was not generous for LG
In publishing the financial report for the second quarter of 2020 (Q2), LG revealed that the accounts have not recovered at all. The company continued to record losses and declines in sales, for the 11th consecutive year. In fact, LG hasn’t had such a bad quarter since 2003.
As we mentioned several times, LG continues to waste opportunities. The LG Velvet was an excellent bet for the brand to regain some ground and perhaps start over from scratch in the smartphone market. However, the price of the equipment ruined everything.
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