SEOUL, May 10 (Korea Bizwire) — LG Electronics Inc. said its V50 ThinQ hit market shelves in South Korea on Friday, with the company hoping its slumping mobile business will rebound with its first 5G smartphone.
The LG V50 ThinQ officially went on sale after weeks of delay to ensure its performance under 5G networks with local carriers — SK Telecom Co., KT Corp. and LG Uplus Corp.
The V50 uses U.S. tech giant Qualcomm’s latest Snapdragon 855 chipset and its X50 5G modem. Its 128-gigabyte model costs 1.2 million won (US$1,054) in the domestic market.
It is the second 5G phone in South Korea, following Samsung’s Galaxy S10 launched on April 5 with a price tag of 1.4 million won.
According to industry officials, the nation’s carriers offer subsidies ranging from 330,000 won to 770,000 won to attract subscribers to the premium 5G package, which would cut V50′s retail price as low as 310,000 won when combined with other promotions.
Those who buy the phone by the end of June will also get a free detachable second screen, which is designed to offer better multitasking experiences, the firm said.
LG has been exploring ways to reverse the fate of its sluggish mobile business, which has posted operating losses for eight consecutive quarters.
Last month, the electronics maker decided to move its smartphone factory in South Korea to Vietnam as part of cost-cutting efforts amid mounting losses in the mobile division.