LG To Sell Apple Devices at Its Stores After Exiting Mobile Business: Report
LG Group, is looking to beef up its business relationship with Apple, industry insiders said on Tuesday, amid rumours that its electronics affiliate may sell the US tech titan's products at its retail shops.
Seoul: LG Group, South Korea's fourth-largest conglomerate, is apparently looking to beef up its business relationship with Apple, industry insiders said on Tuesday, amid rumours that its electronics affiliate may sell the US tech titan's products at its retail shops. LG recently held a special promotion for iPhones, iPads and other Apple products on Lifecare, its online shopping mall for group employees, according to the sources. LG Electronics Officially Announces Exit From Mobile Business After Money-Losing Performance.
This was reportedly the first time that the group offered mobile devices from another smartphone manufacturer for its employee purchase programme, reports Yonhap news agency. The move came amid growing speculations that LG Electronics may sell Apple products to local consumers at its 400 stores nationwide following its departure from the mobile business. In April, LG Electronics announced that it will withdraw from the smartphone business by July after years of losses.
Industry insiders said LG Group is looking to boost business ties with Apple for its future growth. The group already has been providing electronics parts, including displays and camera modules, to Apple. Recently, its electric vehicle (EV) parts joint venture with Magna International Inc., LG Magna e-Powertrain Co., has been linked with Apple's possible self-driving car development.
LG Uplus, the group's telecommunications unit, also started to develop an office working system compatible with Apple iOS for employees using iPhones. Following LG's exit from the mobile business, Apple has been trying to expand its presence in the South Korean smartphone market that is dominated by its archrival Samsung Electronics. Apple recently launched a trade-in programme in South Korea to woo consumers with LG smartphones.
(The above story first appeared on LatestLY on Jul 06, 2021 10:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).