Apple stirred great hype with its latest iPhone SE, but LG is not worried and doesn't even consider it a real threat.
The iPhone SE aims to offer performance similar to that of the flagship iPhone 6s, but in a smaller package similar to the iPhone 5s. Sporting a 4-inch display, the iPhone SE returns to Apple's old design and size.
During a recent event in South Korea, LG CEO Cho Juno expressed his view of the new iPhone SE and the threats it may pose to its own lineup of devices.
"Rolling out a product with the same-old technology and features is not LG's way," says the executive, as cited by the Korea Herald. The CEO also told the publication that it doesn't see the iPhone SE as a threat to the LG handsets competing in the mid-range segment of the market.
The iPhone SE is the mid-range offer in Apple's lineup, going on sale soon for a $399 starting price - notably lower than the $649 starting price of the iPhone 6s. That $399 price point, however, will see a solid premium in global markets outside the U.S.
LG, for its part, believes that OEMs should focus more on the value a device brings.
"Cost-effectiveness is not what device makers necessarily pursue, but they should create a very special value and make something out of it," Cho Juno further tells the Korea Times.
"The same thing goes for us. That's why we do not care too much about a rival's product. LG will tackle the lukewarm market response in the high-end handset market in the same regard."
The executive goes on to explain that LG is not currently focusing on rankings, but on making sure that its latest devices give users various options to simply have fun. Likely referring to the intriguingly modular LG G5, LG says that it will surely overcome any market uncertainties by mixing fun and imaginative elements in its handsets.
However, Apple is not the only rival LG would have to face. Samsung is also making waves with its latest Galaxy S7 line, and likely poses far more serious threats. Speaking of Samsung's Galaxy trade-in program, Juno says that LG is currently working on launching a similar program of its own. No details are yet available, but the company is reportedly in talks to set things in motion.
For now, LG is gearing up for the global release of its latest flagship, the LG G5, which will hit commercial availability in South Korea on March 31. In the U.S., the G5 will go on sale on April 1.