According to a latest report from South Korea, the country’s second largest smartphone vendor is now suffering a slump in its smartphone business due to increasing competition from other manufacturers.
The same report also suggested that LG has cut the prices of their high-end smartphones over the past few years. The average prices of 17 smartphones manufactured by the company stood at just 175,341 won ($149.29) for customers who opt for the 60,000-won level subscription plans offered by the country’s largest SK Telecom.
However under the similar plan, customers have to fork out 414,357 won on average for a Samsung smartphone instead.
Apparently, LG and other local mobile carriers have been pushing their smartphone prices down in an attempt to attract more customers in the face of increased competition from both Apple and Samsung over the past few years.