In April this year, LG announced that it would exit the smartphone business. The company assured software support and honor standard warranties. Soon enough, Apple entered into talks with LG and sell iPhones in its store. However, LG had to cease the discussions with Apple due to backlash from local companies who feared increased competition. Finally, LG is now ready to sell iPhones in its Korean LG best shop.
The latest report by Herald Economic Daily claims that LG has addressed the issues of local companies and has struck a deal with Apple. LG will start selling iPhones in its Korean Best shop starting in August.
“According to the telecommunication and manufacturing industry on the 20th, LG Electronics has effectively confirmed the plan to sell iPhones at LG Best Shop and is proceeding with the existing plan. As a result, LG Electronics, which will withdraw from the mobile business at the end of this month, will start selling iPhones at LG Best Shops nationwide from August.”
As part of the resolution, LG has agreed to deal with the National Mobile Communication Distribution Association. The group intends to look out for small and medium retailers’ interests. Apple is expected to introduce iPhone 13 in late September, and the latest device will be available in LG stores in Korea.
Samsung and LG have an domestic advantage over Apple in South Korea. Apple and Samsung have been at loggerheads, with the former taking lead after iPhone 12 launch. Early this year, Samsung regained its lost share in Q1 2021.
Apple is expected to sell across 400 LG Best Shops. The Cupertino company will increase its retail footprint in the country close to Samsung’s Unpacked event on August 11. Only time will tell whether Apple’s move to sell iPhones in the LG store will reap benefits or not.[via Herald Economic Daily]