Preview of Rollable Phone at CES on the 11th
Expected to Reach Highest Market Share Since 2018
[Asia Economy Reporter Han Jinju] LG Electronics is set to boost its market share in the North American region this year. With a lineup of rollable phones and flagship and mid-range 5G smartphones, the company aims to expand its presence in North America, the largest market for smartphone sales.
According to market research firm Strategy Analytics on the 4th, LG Electronics' market share this year is expected to reach 14.3%, the highest since the fourth quarter of 2018.
Last year, LG Electronics sequentially launched the V60 ThinQ, Velvet, Wing, and other models in the U.S. market where 5G service began, completing a diverse 5G smartphone lineup across various price ranges with mid-range K series and Stylus series phones.
This year, LG plans to add a rollable smartphone to compete with foldable phones and a flagship lineup, aiming to maintain a solid third place in the North American market while expanding sales. The most anticipated "LG Rollable" (tentative name) is scheduled to be unveiled first at CES on the 11th. Although Oppo revealed a rollable phone concept last year, LG Electronics is expected to lead in launching a commercialized rollable phone.
The LG Rollable will feature a display that can expand from 6.8 inches to 7.4 inches. Depending on the usage, the screen ratio changes, allowing users to select modes such as call mode, video mode, and productivity mode.
The growing preference for large-screen smartphones among users also supports expectations for the growth of new form factor smartphones like rollables. According to SA, in the global smartphone market in 2020, smartphones with screens larger than 6 inches accounted for 73.8%, surpassing 70% for the first time ever. This is due to increased consumption of video content through OTT services and rising multitasking demands such as browsing and social networking services.
Among bar-type smartphones, the flagship phone "LG Rainbow" (tentative name), which boasts design strengths, is also set to be unveiled in the first quarter. LG Electronics operates its flagship products under two lines: the innovative form factor "Explorer Project" and the bar-type smartphone "Universal Line." For mid-range phones, the company plans to continue releasing products like the K series and Stylo 7, which feature multi-cameras and large-capacity batteries, while increasing ODM production to reduce costs.
Meanwhile, in May last year, LG Electronics recruited Vice President Jung Sooheon, who is well-versed in the U.S. smartphone market, as head of the overseas sales group of the MC Business Division. Since North America accounts for more than 60% of LG Electronics' smartphone sales, this move reflects the intention to strengthen overseas sales.
Vice President Jung is familiar with local conditions, having served as the representative for key U.S. regions California and Nevada during his tenure at Sprint. Notably, California, home to ICT big tech companies like Apple in Silicon Valley, along with New York, is considered one of the most important markets in the U.S.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
