LG recently announced its exit from the smartphone market after years of struggling to turn a profit. Now, the company is reportedly in talks with Apple to sell iPhones and other Apple products through its LG Best shops in South Korea.
LG has an extensive network of retail stores in South Korea, its home market. Apart from smartphones, LG Best Shops also sell various other LG electronic appliances and laptops.
In comparison, Apple has a very limited presence in South Korea, which is also the home country of Samsung, its chief competitor.
LG has over 400 LG Best Shops in Korea. The company is discussing with Apple on allowing the latter to set up small pop-up shops within these stores where Apple employees can directly sell products to customers. Alternatively, LG Best Shop employees could also sell Apple products.
The two companies are reportedly discussing the establishment of separate Apple corners within the shops that are directly run by Apple employees or allowing LG Best Shop employees to sell Apple products after LG Electronics acquires the right to the sale of Apple products.
While the discussions between the two companies are still ongoing, they are currently divided over the sale of Macs. Apple wants to sell its MacBooks through LG Best Shops as well, while LG is not too keen on selling Macs since it has its own Gram lineup of laptops.
Samsung dominates the South Korean smartphone market with nearly 65% market share. Apple comes in second with a 25% market share. The company could close the gap to Samsung if it can expand its retail presence in South Korea and sell its products through LG Best Shops.[Via BusinessKorea]