LG bets on 5G over foldables to grow smartphone sales

LG is headed to MWC 2019 with two smartphones to show: the LG G8 ThinQ and the LG V50 ThinQ 5G.

The company is putting its mobile division on the line after years of losses and stagnancy in market positioning and that 5G phone, a Sprint exclusive in the US to start, may help it move units.

The chaebol also considered launching a foldable phone at the same time as well. But according to The Korea Times, the company has decided against releasing it at this stage citing low demand.

“The market demand for smartphones is expected to be at around 1 million, but LG’s main issue in smartphone business is to regain its market position,” said Kwon Bong-seok, chief of LG’s mobile communications division.

“Considering this situation, it is too early for LG to launch a foldable smartphone. In terms of technology, we are fully ready to respond depending on consumers’ reactions (to foldable smartphones).”

That leaves Samsung and several Chinese OEMs free to battle it out in this fresh, untapped, high-priced and niche market.

Share This Post

Watch the Latest Pocketnow Videos

About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.