SEOUL, Jan. 18 (Korea Bizwire) – The average sales price of LG Electronics Inc.’s smartphones is about one-fifth that of Apple Inc.’s iPhones, industry data showed Wednesday, underlining LG’s difficulty in reviving its loss-making smartphone business.
According to a survey of 12 LG smartphones sold at KT Corp.’s online store, the average sales price of LG smartphones stood at about 137,000 won (US$117.60).
LG’s smartphone line-up consists of mid- and low-range devices, including the LG Stylus 2 and X Screen, with sales prices ranging from 20,000 won to 70,000 won. Some LG smartphones can be purchased for free depending on the subscription contract. LG’s flagship smartphone V20 was priced at 748,900 won.
In comparison, the average sales price for Apple’s 17 iPhone models on the same site stood at 715,600 won. The average sales price of Samsung Electronics Co.’s smartphones was 335,800 won.
An industry observer said LG should put its premium devices back on the track for strong sales to revive its smartphone business.
LG has said its next flagship G6 smartphone will be unveiled next month.
With its new smartphones failing to appeal to consumers amid tougher competition with Chinese brands, LG’s smartphone division has posted operating losses since the third quarter of 2015.
During the fourth quarter of last year, LG’s smartphone business is believed to have posted an operating loss of between 400 billion won and 500 billion won, according to some analysts