[LG Electronics Concall] "Targeting Entry-Level in Latin America and Premium in Europe Amid Huawei Gap"

[Asia Economy Reporter Han Jinju] In the conference call for the Q3 2020 earnings announcement held on the 30th, Seo Dongmyung, Head of Planning and Management at LG Electronics' MC Business Division, commented on the benefits from Huawei's decline, stating, "Due to the sanctions on Huawei, global smartphone sales are expected to sharply decrease, and competition among companies aiming to fill Huawei's market gap is expected to be quite intense."

Seo added, "The sanctions on Huawei are expected to have little impact in markets such as the US, Korea, and Japan. In Central and South America, including Mexico, we are promoting sales expansion with competitively improved budget models to replace the existing Huawei slots. In Europe, we expect additional premium sales by leveraging 5G and new form factor products (Wing) to target Huawei's vacant position."

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