Photo = Yonhap News
LG Electronics, which suffered sluggish sales since its launch(143,000 -3.38%)The long-term evolution (LTE) version of’Velvet’, a smartphone of’Velvet’, was’sold out (completely sold)’ one day after it started selling through a low-cost phone company.
An affordable phone is a mobile phone sold by a company that provides its own wireless service by borrowing the communication network of an existing mobile operator. Since the operator does not pay a large cost to establish a communication network, consumers can also use it at a relatively low rate.
According to the industry on the 26th, SK Seven Mobile, SK Tellink’s affordable phone brand, announced the day before that the LG Velvet LTE version, which started on sale on the 24th, “is’out of stock’ due to a congestion of orders.”
The reason that the LG Velvet LTE version was sold quickly is attributed to the high subsidies set by manufacturers and telecommunications companies to exhaust inventory.
Seven Mobile sold the LG Velvet LTE model to consumers with a device price of 0 won starting from a 3G telecom (3G) plan with a monthly minimum of 9790 won per month under a two-year contract condition.
The company’s LTE plan started at 9,900 won per month and started at 0 won. Even if you calculate 24 months with a 9900 won plan, the total maintenance cost is only 24,200 won.
Earlier, LG Electronics began selling the LG Velvet LTE version through affordable phone operators such as LG Hello Vision Hello Mobile from last month.
LG Velvet’Aurora White’/Photo Credit=LG Electronics
The LG Velvet LTE version has the same specifications as LG Velvet released in May of last year (6.8-inch display, 48-megapixel main camera, 8-megapixel ultra-wide-angle camera, 16-megapixel front camera, etc.) and only a 5G antenna.
Other specifications are the same. LG Velvet’s symbol of a water droplet camera on the back and ‘3D Arc Design’ with bent ends of the display were applied. The application processor (AP) is equipped with Qualcomm’s Snapdragon 765, which supports a 4300 milliampere hour (mAh) battery capacity on a 6.7-inch display.
LG Velvet is the first product introduced by LG Electronics after abolishing the existing flagship (strategic) lineup’G’ and’V’ series and rebranding. By setting the factory price at 89,980 won, it aimed to be a’mass premium phone’ that lowers the price and maintains premium performance compared to the existing premium phones.
Contrary to expectations, however, LG Velvet suffered sluggish sales due to the Apple iPhone SE and Samsung Electronics Galaxy Note 20, which were released at the same time.
LG Electronics is not conducting any promotions for the LG Velvet LTE version. Since LG Electronics declared’a full review of the smartphone business’ in January, it is currently reviewing various scenarios such as sale and withdrawal.
Seongsu Bae, reporter of Hankyung.com [email protected]
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