As expected, LG Electronics will start selling Apple products, including iPhones, in its stores in South Korea. This information was confirmed today by a representative of the South Korean company.
Initially, LG’s intention was opposed by local distributors, who considered it a violation of an agreement that prevented anti-competitive behavior by LG and Samsung. In 2018, the two South Korean firms agreed to only sell their own brand smartphones in their stores to avoid competing with smaller distributors.
But the association representing smaller distributors said it has signed a new deal with LG that now allows the South Korean electronics maker to sell other brands.
LG is expected to start selling iPhones and other Apple products in some of its stores as early as August. There are about 400 LG stores in South Korea. These stores sold LG smartphones until the company announced it would exit the smartphone business earlier this year. The exit from the mobile business is expected to be completed by the end of this month.
According to research company Counterpoint, last year 65% of the smartphone market in South Korea was held by Samsung, 20% by Apple, 13% by LG.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
