LG eyes larger smartphone market share with G2

As the competition in the global smartphone market continues to heat up, LG Electronics expects that it will continue the momentum shown earlier this year with the release of its latest model G2.

This year, the world’s third-largest smartphone maker sold more than 10 million smartphones worldwide for the second consecutive quarter for the first time. And the G2 is expected to give the company an extra sales boost for the second half of the year, according to company officials on Friday.

“We’ve readjusted our focus back to design,” a market insider said.

“Whereas our previous concerns mainly revolved around hardware and user experience, with the G2, we tried to concentrate on design and the brand image.”

In an attempt to showcase the latest model as a distinctive brand on its own, LG is expected to name it just G2 ― differentiating it from other Optimus models.

“The G series has already become an invaluable brand within our company with worldwide reputation and recognition,” the market insider explained.

“Our marketing strategy is to project the G series as LG’s flagship line for the future.”

The main distinction that LG hopes its customers will see favorably with the G2 is its button-less design. Both on the front and sides, the home button as well as the volume buttons have been repositioned on the back of the smartphone.

The G2 will be powered by Qualcomm’s 2.3 GHz Snapdragon 800 processor and feature 2 GB RAM, 5.2-inch full high-definition display and a 13-megapixel rear-facing camera.

Although the technical specifications are nearly the same as its major competitor ― Samsung Galaxy S4, which was released this April and sold over 20 million worldwide already ― LG is targeting the long-term smartphone market, according to the company official.

According to some industry experts, however, the sales growth rate of the global smartphone industry is expected to reach a plateau soon, as there are less technological “wow factors” that can fascinate users and induce buyers to make the immediate purchase as the new models are released.

The pioneer in the smarphone industry, Apple’s quarterly sales rate this year so far is expected to show no growth at all compared to last year, financial experts recently predicted.

The commercialization of the LTE-Advanced network in major countries this year may facilitate a sales boost for smartphone makers, according to industry officials.

LG is expected to hold a G2 launching event in New York City on August 7.

By Kwon Bum-joon (bjkwon@heraldcorp.com)