LG's V10 Fails to Enter The Top 10 In Terms of Domestic Sales In South Korea Within a Week of Its' Release
Despite its strong launch and promising reviews, the LG V10 is failing to establish gratifying sales statistics as initial reports say the smartphone is losing ground on its home turf.
LG Electronics' V10 smartphone failed to land a spot in the top 10 domestic smartphone sales for its first week of availability in South Korea, according to data from market research company ATLAS Research & Consulting.
Digital Trends reports Friday that from Oct. 8 to Oct. 14, the V10 only ranked 15th while Samsung dominated the list with the Galaxy Note 5 on top. Samsung basically monopolized the top 10 list with Galaxy S6, Galaxy Grand Max, Galaxy Sense and Galaxy A5 making an entry.
All of Samsung's offerings from its three tiers-low end, mid-range and premium-are doing well in terms of sales. That said, LG's problem does not stem from an unfavorable market, seeing that consumers from different classes have strong purchasing power.
LG's steep pricing could be a contributing factor to the V10's lackluster sales. Business Korea reports Friday, while LG has slashed V10's price to $615 it will still be difficult for the company to compete with Samsung and Apple since they, too, have cut down the price for the Galaxy S6 and iPhone 6, respectively.
With the dual-screen V10 failing to meet expectations as LG's premium smartphone for 2015, this paints a grim picture for the company's future sales.
LG met the same fate last year with the G4 smartphone which was expected to sell around 12 million units globally, but didn't deliver, GSM Arena notes Saturday. Because retailers were having difficulty selling the G4, they were eventually put on sale with nearly zero profit margin.
The V10 boasts two 5-megapixel front cameras and a 16-megapixel rear camera. It runs on the Qualcomm Snapdragon 808 processor and supported 4 GB of RAM. The handset is reportedly "resilient" due to its Steel Dura Guard Frame and Reinforced Dura Skin Back.