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LG looses grip on smartphone business due to sluggish demand of G4

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LG looses grip on Smartphone business

The fact is LG been loosing Smartphone business in the past, not only in India , but other parts of the World also. Though LG Smartphones are considered to be the best in Technology, But the Mobiles are always overpriced and Perceived Value of the LG Smartphones has always been less.

LG plan was to sell over 10 million handsets of G4, but a shaky start for the flagship Model has changed the whole game plan. To meet the Sales Forecast set by LG Sales Team, LG Electronics is supposed to sell 2.6 million G4s in the second, third, and fourth quarters of this year. However, the shipment for the second quarter is estimated to be less than 2.5 million units, and the actual sales volume is expected to be less than that.

As reported by Korea Times, Daishin Securities and Korea Investment & Securities recently lowered their figures from 102 billion won (US$92.3 million) to 56 billion won (US$50.7 million), and from 115 billion won (US$104 million) to 68 billion won (US$61 million), respectively. NH Investment &  Securities adjusted its estimate downward to 64 billion won (US$58 million) from 95 billion won (US$86 million).

Immediately after its debut, the G4 smartphone was predicted to record sales of around  10 million units in sales volume this year, to surpass the record of the previous model G3, which reached 5.8 million units in the year of its release.

Do you agree, LG G4 is really a costly Mobile and LG needs to lower price ?

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