LG has noticed with intensity the drop in mobile sales caused by the pandemic, but it is recovering little by little and is already thinking about giving a new blow to the market. At the end of the year, it will present a cheap mobile phone with 5G technology.
Mobile sales have suffered a severe setback this year, in general the entire economy has been affected by the pandemic. LG is one of the brands of technological devices that is noticing the most falling sales.
Despite its attempt to renew its mobile series with the LG Velvet model, the manufacturer has noticed quite a bit of a decline in sales in recent months. In their financial report on the second quarter of 2020 they affirm to have registered a fall of 19% with respect to the previous year. However, they view with positivity as sales soared 31% in the first quarters of the year, after supply chains were restored.
The launch of its modern LG Velvet was also a boost for sales, so they are committed to continuing to launch models with which to attract the attention of the market. Within this strategy they would be preparing for the end of the year a cheaper mobile phone compatible with 5G networks.
At the moment, new technology has not reached the most modest mobile ranges and remains on the market with prices not suitable for all budgets. It is expected that this inequality will be smoothed out next year and we will see more mid-range or even low-end mobiles with 5G.
An LG official has been the one who has given the warning. It ensures that the brand is working to improve the profitability of its business and be more competitive in the current market. The possible launch would be by the end of this year and would consist of a $ 100 or $ 200 max 5G smartphone, positioning itself ahead of its competitors in markets such as the United States or China.
According to this information, published by Gizmochina, LG would be in talks with chip and ODM makers with which to include 5G technology on mobile and make it more accessible to a wider number of consumers. Although it is speculated that the date of sale of this mobile in markets such as Europe or the United States will be in the fourth quarter of 2020, the date is not yet known. We will know more about this cheap 5G smartphone as the official presentation approaches.