Tag: lg electronics

Mobile wallet may be in the works at LG

One of the major providers of Android based smartphones in the United States may be entering into mobile payments.

According to recent reports and rumors that are becoming increasingly widespread online, LG Electronics is in the midst of an effort to develop and launch its own native mobile wallet app.

These headlines have come into the spotlight after the company made a trademark filing for names suggesting payments.

The names that have caused speculation about a native mobile wallet from the company are “G Pay” and “LG G Pay”. These trademark filings were made both in South Korea and the United States, according to a number of reports including ETNews from South Korea. The trademark claims were apparently for functions that were “related to data transmission” with regards to both smartphones and smartwatches.

There have also been a number of others steps taken by LG that suggest a potential mobile wallet.

New Mobile Wallet App May LaunchAmong the moves that LG has taken that indicate that it is interested in stepping into mobile payments include the Watch Urbane LTE smartwatch from the company which includes NFC (near field communication) technology. This is the same tech used by a large number of the mobile payments platforms that are already in existence. This would make it possible for devices to complete transactions at a checkout counter.

Also a component of the speculations was the statement made by Kim Jong Hoon, the director of LG Electronics, when he said that the company had been considering an expansion into smartphone payments at a media conference this month for new hardware from the company.

This would make LG the fourth launch of a mobile wallet in the United States from a major company, since 2014. The primary competition that LG will be facing within this sector is likely from Google and its Android Pay. The reason is that because LG’s devices are Android based, it would give consumers the choice between the two apps. Moreover, it could even be that both of those mobile apps could come pre-installed on the devices. Therefore, consumers would be most likely to choose from between the two applications that are already there, as opposed to downloading an alternative.

LG Electronics to double mobile devices with 15 in 2016

This is a direct reflection of the company’s expansion in the massive Indian smartphone marketplace.

LG Electronics India has now announced its intentions to double the number of mobile devices it will have to offer in 2016, as it plans to launch about 15 different smartphones across a range of different price points.

The new mobile phone offerings are meant to boost its overall revenue through mobile sales sources.

At the moment, LG Electronics brings in about 7 to 8 percent of its overall revenue through the sale of mobile devices in India. It currently sells about 13 models of cell phones in the country. That said, the sales that it has seen have been considered to be disappointing and the company is hoping to change that situation dramatically.

According to Ki Wan Kim, the managing director of LG Electronics India, “This year, performance of our mobile business has been disappointing. We will launch around 15 mobile models next year. In three years time, my target is to make all our product categories to contribute equally in percentage terms to our total sales… bring mobile sales to similar level of consumer durables.”Mobile Devices - LG India

There are four main areas of mobile devices, including smartphones, that are the main focus of LG India.

Those four categories are currently mobile gadgets, home appliances, home entertainment, and air conditioners. While the company does plan to boost its sales within the country, it doesn’t have any intention to begin manufacturing in the market.

They had previously manufactured in India, but they have ceased that operation and haven’t any current intentions to return to the activity. Should the company consider returning to manufacturing in India, it will require sales to justify the decision. Ki Wan Kim stated that “Our future sales forecast should be stable to keep our factories operational.”

Among the main areas of focus for the sale of mobile devices in the country will be smartphones. This market has been seen as a massive opportunity by many handset makers due to the expansion of the demand for the technology and the relatively low penetration, so far, when compared to other markets.