[THE INVESTOR] LG Electronics
' new flagship smartphone LG G6 is expected to hit the US market on April 7 or 10, industry sources said on March 13.
The phone started sales in Korea on March 10, selling more than 30,000 units over the weekend. Related:
Full transcript of interview with LG mobile chief
Sources say the US launch is crucial for the new phone’s success. Despite its sluggish smartphone sales globally, LG has maintained its sizeable stake of 12.8 percent in the US where it is the third-largest smartphone maker in terms of sales after Apple and Samsung Electronics.
In order to restore profits overall, LG should elevate its more lucrative premium phone sales in the US market that makes almost half of its total phone sales.
With the latest G6, LG has pledged to go back to basics, ditching the tech innovations of its predecessors, including the G5, the industry’s first modular smartphone.
The phone features a sleeker design without no drastic change in hardware functions. The largest-ever 5.7-inch full screen covers almost all part of the front body, with a fingerprint-scanning home button on the back.
Battery, processor and cameras have been upgraded but not drastically. Google Assistant, serviced in English and Germany only, allows users to operate the phone through voice commends even when the screen is not activated.
Citing the positive early market reactions, Eugene Investment and Securities projected the mobile business division’s earnings loss at about 402.6 billion won (US$531 million) this year, which compares to last year’s 850 billion won.
Following the US launch, LG also plans to debut the phone in Europe later in April.
By Lee Ji-yoon (firstname.lastname@example.org