LG Electronics Inc. has set the price of its flagship G7 ThinQ smartphone at 898,700 won (US$833), 1,100 won cheaper than the price of its predecessor, the G6 smartphone, according to company officials on Tuesday.
LG unveiled the new device last week, hoping to turn the tide in its money-losing smartphone business, which has posted operating losses for 12 consecutive quarters.
Despite new features and more advanced artificial intelligence technologies than previous smartphones, the aggressive pricing is aimed at wooing consumers at a time when the smartphone industry is grappling with fierce competition and market saturation.
Last Thursday, LG Electronics Vice President Hwang Jeong-hwan told reporters that the company wants to sell more smartphones with slimmer margins.
The G7 ThinQ features a 16-megapixel main shooter, along with an 8 megapixel selfie camera.
It also sports a 6.1-inch “Super Bright Display” screen with a whopping brightness of 1,000 nits, a measure that refers to one candela per square meter. A higher figure indicates a brighter display.
LG Electronics plans to begin selling the new smartphone from May 18.
