LG takes on Apple with premium smartphones

By Kim Tae-gyu

LG Electronics plans to unveil its premium smartphone V20 on Sept. 6 in San Francisco, a day before Apple takes the wraps off its new iPhone in the same city.

The Seoul-based company strives to gain some footing in the global smartphone competition with the successor of the V10, which was quite a success in global markets including the United States over the past year.

“The V20 is rich in features. It will be armed with a 32-bit quad digital-to-analog converter designed for improved high-resolution music playback for the first time ever. It will also be the first mobile device powered by Android 7.0,” an LG official said.

“We also continued our partnership with Bang & Olufsen so that the V20 will have best-in-class audio functions. On the back of such advantages, we are confident that the new model will be a hit.”

The official refused to reveal other details about the V20 including its price.

Earlier this week, Apple sent official invitations to its introduction of the iPhone 7, which is expected to be water-resistant, taking place in San Francisco. The firm vies to retake its lost market share with the new gizmo. But observers question whether the iPhone 7 has fancier applications and specs than previous versions.

This is not the first time for LG to take a similar strategy ― this February the outfit disclosed the G5 on the same day that its cross-city rival Samsung Electronics launched the Galaxy S7.

The outcome was not good because the G5 failed to make a dent in the industry while the Galaxy S7 was a grand slam, greatly boosting Samsung’s bottom line and share price.

It remains to be seen whether LG will be able to make a difference this time around, market watchers point out.

“Some may say that LG’s unpacking day of the V20 is perilously close to that of Apple’s day. But what is important is not the date but the functionality of the new device,” said a Seoul analyst who asked not to be named.

“LG seems to be quite convinced of the V20’s success because its predecessor V10 did well in the U.S.”

When it debuted last September, the V10 sold 450,000 units in its first 45 days in the U.S. alone, as the gadget attracted customers there on the strength of its advanced video-audio capabilities and affordable price.

LG had been one of the top-tier players in the global handset market but it lagged behind such stellar sellers as Samsung and Apple as it did not invest in smartphones in the late 2000s.

The company is working to catch up with industry leaders but has not come up with its own killer phone yet.