LG is long gone from the market but Apple and Samsung are giving an opportunity to the existing users to get money in exchange for their old LG phones.

HIGHLIGHTS

• Apple and Samsung have started a trade-in program exclusively for LG users in South Korea.
• Apple has come up with this marketing strategy to ramp up its sales after LG’s exit.
• The Apple exchange program will be valid till September 25.

LG is long gone from the market but Apple and Samsung are giving an opportunity to the existing users to get money in exchange for their old LG phones. Apple and Samsung have started a trade-in program exclusively for LG users in South Korea. Apple has come up with this marketing strategy to ramp up its sales after LG’s exit. The Cupertino-giant also does not want LG smartphone users to go for Samsung phones.

As per Yonhap news agency, Apple has joined hands with local mobile carriers to run a special program that would give an opportunity to LG users to get an additional 150,000 won ($134) on top of the trade-in value of the smartphone. LG users in South Korea would probably not get a deal as good as this.

The Apple exchange program will be valid till September 25. LG phone users can exchange their phone for an Apple iPhone 12 and iPhone 12 mini. The exchange offer is only available in the stores run by the telcos in the country. The official Apple Store is not offering any such scheme for now.

Samsung is also offering similar offers to expand its share in the market. The scheme will go on till June 30 and will be targeted at LG users primarily. Users will be able to exchange their old LG phones for Galaxy S21, Galaxy Z Fold2, Galaxy Flip 5G and Galaxy Note 20.

As per Counterpoint Research, Samsung was the most preferred brand in South Korea with 65 per cent of the market share, followed by Apple with 21 per cent share and LG with 13 behind. But now with LG gone, Apple is eyeing to grab those 13 per cent share. Apple and Samsung have not announced whether they plan to expand their exchange program to other countries or not.

LG exited the smartphone business because the mobile division has not been generating revenue, but it would continue providing support and software updates to existing products “for a period of time which will vary by region.” Some phones including the Wing, Velvet, Q-series, W-series, and K-series, will continue to sell until the inventory exists.