Apple has come up with a strategy to pick up market share from LG after its impending exit from the market. Per the Yonhap news agency, Apple will offer a special trade-in program to LG users in South Korea.
Apple wants to prevent LG smartphone users from going to Samsung
As of October last year, South Korea’s 5G market was dominated by domestic players Samsung and LG. Apple launched the iPhone 12 series in Korea earlier than usual to scoop up market share. The Cupertino giant also opened its second Apple Store in Seoul earlier this year. Now that LG is out of the picture, Apple has every reason to compete more fiercely.
Apple has apparently teamed up with local mobile carriers to run a special program that would give LG owners an additional 150,000 won (~$134) on top of the trade-in value of a smartphone. This is separate from the existing trade-in programs run by local carriers.
The program, which is first of a kind by Apple, is currently exclusive to South Korea. Apparently, LG users are more likely to choose Samsung over Apple because of the same Android operating system. According to one report, nearly 80 percent of LG V50 ThinQ users have switched to a Samsung Galaxy device.
According to Counterpoint Research, Samsung leads its home market with 65 percent of the pie. Apple has a market share of 21 percent in South Korea, and LG is third with 13 percent.
It remains to be seen if Apple and Samsung will extend their trade-in programs elsewhere.
