Home Technology LG will be offering half-price program for Velvet smartphone in South Korea

LG will be offering half-price program for Velvet smartphone in South Korea

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LG will be offering a half-price program for Velvet smartphone in South Korea.

LG Electronics plans to offer 50% discount program for its upcoming flagship phone, the LG Velvet in South Korea, the company has said. The customers who agree to return their Velvet smartphone after two years of use and then buy another LG smartphone afterwards will get the discount, as explained.

LG Velvet smartphone in South Korea

Velvet smartphone in South Korea

Meanwhile, the company has also unveiled that the official pricing of the LG Velvet has been set at 899,800 won. LG previously touted the Velvet as a mass premium device but the unveiled price is actually slightly higher than its predecessor, the G8 Thinq, which was priced at 879,600 won when it launched in May last year.

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It faces competition from rivals, with the 64 GB version of Apple iPhone SE to sell for 539,000 won and Samsung Galaxy A51 128GB to have a price tag of 572,000 won. The Apple and Samsung devices will be available for purchase on Wed and Thursday respectively.

Local telcos have also increased subsidies for Samsung Galaxy S20 series devices. Pre-orders for the LG Velvet begin on Friday and official sales will begin on May 15. The global launch date and pricing details are yet to be announced. Prior to this announcement, the company said the Velvet would be powered by Qualcomm 765 5G chip-set and sport a 6.8 inch OLED display.

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The phone will also have a triple camera on its back in a raindrop design. Just last week LG announced in its Q1 financial results that the business mobile did not make a profit yet again, which marked its 20th straight quarter of loss.

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