LG's V20 set to hit market next week
LG’s V20 handset and its “sound package” audio devices which include Bluetooth speaker and headset. / Courtesy of LG Electronics
By Lee Min-hyung
LG Electronics’ audio-focused smartphone V20 will go on sale next week in Korea, with the firm expanding its sales portfolio into key overseas markets such as the United States and Hong Kong soon after, the company said Tuesday.
The handset manufacturer announced the much-hyped 5.7-inch handset will be available from Sept. 29 with a price tag of 899,800 won ($804), up 100,100 won from its predecessor the V10.
LG pinned hopes that the new premium handset will become a savior, helping the firm rebound from its relatively weak profile in the high-end smartphone market ― dominated globally by Samsung and Apple.
Observers say the V20 comes at the best time when its biggest home turf rival Samsung is suffering setbacks, after its Galaxy Note 7 handset has been mired in a so-called “exploding” battery scandal. Samsung plans to resume its sales on Sept. 28 here. The Note 7 sells for 989,800 won.
“The price for the new V series went up, due to improved camera and audio functions, but it remains to be seen whether this will put a damper on its sales,” said a telecom industry official.
“It is too early to judge whether the price is reasonable, as we have to take into account various factors ― including the size of subsidies and market responses after its release next week,” said the source.
An electronics industry official said the price of the new LG handset is reasonable, given the upgraded high-end audio functions.
“Bang & Olufsen (B&O) earphones come bundled with the V20, which offer a similar level of audio experiences as the H3 by B&O PLAY earphones,” said the source. The H3 earphones sell for 279,000 won here.
The V20 also comes with a 32-bit Hi-Fi quad digital-to-analog converter (DAC), generating a powerful performance double that of the Hi-Fi Plus with the B&O PLAY audio module used for the G5 smartphone which was launched this February. The module is priced at 189,000 won.
“Their combined value exceeds 500,000 won. But customers can enjoy all the benefits with the price increase of 100,000 won. That is why the V20 is price-competitive,” he said.
In a statement, LG Electronics dispelled concerns over the price increase, citing various promotional events.
In particular, the company plans to offer a payback of up to some 460,000 won for those who purchase the V20 through Shinhan Card. LG is also holding a special “sound package” promotion until the end of next month, offering a Blutooth headset, speaker and battery pack for 5,000 won, in collaboration with Shinhan Card.