'LG Phones Soon Discontinued' Clearance Sale... 'LG Wing' Price Drops to Lowest 200,000 Won Range

LG Wing displayed inside an LG Electronics store in downtown Seoul
[Photo by Yonhap News]

[Asia Economy Reporter Joselgina] The value of LG Electronics' strategic smartphone 'LG Wing,' released in the second half of last year, has dropped further. It is analyzed that the movement to clear inventory of even the latest models is accelerating ahead of LG Electronics' planned smartphone production halt at the end of this month.

According to SK Telecom on the 20th, the company raised the official subsidy for the LG Wing from a maximum of 500,000 KRW to 700,000 KRW as of the previous day. The LG Wing's retail price is 1,098,900 KRW, and when using SK Telecom's highest-priced plan, the actual purchase price, including an additional 15% subsidy from the distribution network, drops to 293,900 KRW.

By plan, the official subsidy was adjusted from 380,000?500,000 KRW to 580,000?700,000 KRW, with the discount on official subsidies exceeding the 25% selection discount (over two years) across all tiers.

This is the highest level even among the three major carriers. Previously, before LG Electronics' decision to withdraw from the smartphone market, LG Uplus raised the official subsidy for the LG Wing to a maximum of 600,000 KRW at the end of last year, while KT has maintained the launch-level subsidy (up to 240,000 KRW) to this day. There are expectations that KT will also increase the official subsidy for the LG Wing soon.

The telecom industry recently raised official subsidies for budget 5G phones like the LG Q92, showing a movement to clear LG smartphone inventory ahead of the withdrawal. LG Electronics also conducted a limited sale of 3,000 units of the strategic smartphone Rainbow (LG Velvet 2 Pro), which was canceled from commercial release, exclusively to employees. This model was a successor to the LG Velvet with significantly improved key specifications and was scheduled for release in March?April this year.

LG Electronics, which announced plans to exit the smartphone business by the end of July, will continue producing phones until the end of May to supply products promised to carriers and other partners. Even after business closure, LG will support operating system (OS) upgrades for phones for up to three years to ensure customers can use LG phones with confidence. Product after-sales service (AS) will be available for at least four years.

According to market research firm Counterpoint Research, LG Electronics held a 13% share of the domestic smartphone market last year.

This content was produced with the assistance of AI translation services.