[LG Electronics Concall] "Preparing Flagship, Differentiated Form Factor Products"
[Asia Economy Reporter Han Jinju] On the 29th, during the conference call following LG Electronics' first-quarter earnings announcement, Seo Dongmyung, Head of Planning and Management at LG Electronics MC Business Division, stated regarding the smartphone business strategy, "For high-end products priced above $1000, we are preparing differentiated form factor products aimed at customers seeking innovation and diversity, enhancing brand image and leading a shift in customer perception."
He continued, "For products in the $599 to $999 range, we will develop a lineup positioned as mass premium products with competitive design and specifications at reasonable prices to alleviate purchase burden and maximize sales by capturing the expanding 5G demand."
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Seo added, "The LG Velvet is a product that strengthens design and functionality at a reasonable price, and we will avoid excessive price competition while improving cost profitability compared to the previous model. We plan to launch it in advanced 5G markets such as Korea, North America, and Japan, expecting to expand sales volume and contribute to profitability improvement."
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