In South Korea, the ₩1,000,000 mark holds just as much psychological weight as $1,000 does in the United States — though the former actually buys about $884 at the time of this post.
That has not stopped Samsung from breaking it with impunity, though, pricing the base model 64GB Galaxy Note 8 at about ₩1,090,000 ($964) and the 256GB model at a harrowing ₩1,250,000 ($1,105).
LG was highly expected to park right against its rival chaebol with its new V30. It did not. The Korea Herald reports that the top-end 128GB version will cost ₩998,000 ($882) while the 64GB device will cost ₩949,300 ($840).
The company has usually and marginally underpriced its larger competitor but has, regardless of pricing strategy, undersold them as well. It reportedly continues to operate under a consumer price advantage motif. The relatively diminutive difference between the two storage sizes should help encourage sales of the 128GB model.
“Due to the two strongest rivals [Apple and Samsung], it is not easy to see gains,” LG Mobile CEO Juno Cho said. “But the performance of our smartphone business is improving quarterly, year-on-year. Yet, it is difficult to say when it will swing back into the black.”
LG posted minor losses on its mobile unit last quarter.