LG is abandoning the smartphone market. But the Korean brand had good market shares in some countries, including Korea. Customers that Apple and Samsung hope to make their own through promotions that specifically target the brand’s customers.
You probably know it: LG has announced that it wants to leave the smartphone market . The announcement was made in April 2021. The Korean firm has decided to close its division dedicated to mobility, while very ambitious products have been unveiled recently, including the LG Wing and the LG Rollable . The latter is based on roll-up screen technology, an innovation that was developed to compete with Samsung’s foldable screens. In 2020, it represented 2% of the world market.
If LG did not represent much in Europe for a long time (the brand has stopped selling smartphones in France since March 2019), it was still very well positioned in other countries, in particular the United States (where it represented a out of ten sales) and South Korea. In the latter, it represented 13% of smartphone sales , in third position behind Samsung ( 65% ) and Apple ( 21% ), figures released by Counterpoint Research.
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13% of a market of several tens of millions of smartphones per year is no small feat. It remains to be seen who will take over this clientele. According to the Korean news agency Yonhap, Apple is particularly interested in this one. The firm reportedly intends to launch specific take-back offers for LG smartphones including a premium whose value exceeds 100 euros .
The only condition is to buy an iPhone 12 or an iPhone 12 Mini . The promotion would start soon and run until the end of the summer. And it would concern both the brand’s 4G and 5G models. This trade-in program is unique in the world for Apple. This is the first time that the firm has launched a brand-specific, country-specific program. Chance (or not?) Of the calendar, Apple opened its second Apple Store in South Korea last February.
This technique worthy of a commercial guerrilla has two objectives. First, get more customers. Then prevent its customers from falling through Samsung’s cracks. It makes a lot of sense to wait for a migration of LG customers to Samsung. A study cited by the Yonhap agency claims that 8 out of 10 LG customers will prefer Samsung to another brand. Especially since Samsung has also prepared trade-in offers for any purchase of a Note 20, S21, Z Fold 2 or Z Flip.