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Can LG’s VELVET Reverse its Fortunes?

by Rajeev Nair | Apr 15, 2020

LG recently announced its new phone “LG VELVET” and to be made available for retail in the month of May 2020. The new smartphone has incorporated many points from our advisory, we regularly make in our quarterly insights. Latest being available here, from the Wireless Smartphone Strategy (WSS) Service.

LG has a higher focus on the design and aesthetics, than the specifications. With this announcement, it also makes a departure from its traditional alphanumeric naming conventions. VELVET smartphone features a unique raindrop camera besides symmetrical and flowing form factor.

                                            Exhibit 1: LG VELVET

                      LG VELVET

The device is likely to be powered by Snapdragon 7 series chipsets and would support 5G connectivity. We expect LG to be positioning the new launch in the mid to high price tier. Its new branding strategy is clearly kicking in with the announcement of this new device.

With the overall smartphone market nosediving globally and in its key markets of operation, due to the corona virus pandemic. LG is staring at further stiffening of its already troubled smartphone business.

Please do keep a TAB on this space, with our upcoming insights and advisory on the vendor and VELVET to answer questions on:

1. If VELVET leads to revival in LG’s smartphone fortunes?

2. Does it move the needle in terms of user appeal?

3. What more does LG need to make its new branding strategy work in a COVID impacted era?

4. Which markets to target with the new device launches that it is rolling out?

5. Would VELVET lend an upper hand for LG in the 5G segment that is transitioning fast to the mass market?

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