LG to begin V50S ThinQ sales in South Korea

South Korea is the second most important market for smartphones for LG after the US and V50S ThinQ's performance will determine whether the business can overcome its years-long slump.

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Image: LG

LG Electronics will begin sales of its flagship smartphone V50S ThinQ in South Korea on Friday, the company said.

The electronics maker will give out its accompanying second-screen accessory for free, it said, which when combined with the main phone offers a dual-screen experience.

LG V50S ThinQ will come in black only and is priced at 1.2 million won ($999). It will be available in all three telcos -- SK Telecom, KT and LG Uplus -- with the telcos likely to put their marketing muscle behind the model in order to gain as many 5G subscribers as possible before year-end.

The phone has 5G capabilities, boasts a 32 megapixel front camera, and a 6.4-inch OLED display.

Sales in North America and Europe will follow later, the company said.

In its earnings guidance, LG said it expects a slight rise in profits for the third quarter compared to the same period a year ago. The company estimates operating profits of 781 billion won and revenues of 15.7 trillion won, a rise of 4.3% and 1.8% year over year, respectively.

The company is expected to have reduced losses in its mobile business thanks to recent restructuring efforts. It posted an operating loss of 313 billion won in the second quarter but this is expected to be almost halved in the third quarter.

LG has transferred smartphone productions from South Korea to Vietnam in an effort to reduce cost.

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