Last Updated on 22/11/2021 by Riya
After declaring not to make smartphones anymore, LG was recently found participating in the smartphone business. LG recently announced a partnership with Apple to sell their devices at its retail stores in South Korea. Apple has partnered with LG to boost its presence in South Korea as LG will assist Apple to increase its revenue by selling its devices across the country.
The partnership between LG and Apple, on the other hand, will be a big problem for Samsung. A South Korean mobile developer, has a substantial market presence in the country however if LG sells Apple devices in South Korea, Samsung will suffer a significant loss, as LG owns 400 stores across the country. LG has also recently released a special promotional offer for the sale of Apple products in order to attract customers of South Korea.
LG is also likely to begin selling Apple gadgets on its web store in coming years. It’s the first time a mobile phone manufacturer has partnered with a competitor to sell its devices. LG Electronics said in April of last year that it was leaving the smartphone manufacturing industry due to face losses in the sector over the past few years. However, by collaborating with Apple, the company hopes to recover the losses it faced in the smartphone market.
Apart from selling Apple devices, the company will also assist Apple in the production of iPhones by providing electronic components, screens, and camera modules. Apple is keen to scale up its business worldwide, this year in March, the company also begins the production of 5G-ready iPhone 12 in India to minimize the burden of import duty and increase the volume of the production in India.
In the statement, the tech giant said “We are delighted to begin the manufacturing of iPhone 12 in India for our Indian customers”. The company took the help of its manufacturing partner, Foxconn, to manufacture the latest Apple devices. Currently, Apple devices are quite expensive however, after beginning the production of the latest Apple devices in India, the customers could buy Apple iPhone at a cheaper price.