Apple is set to start a new Aggressive Trade-In program to lure LG Smartphone owners in South Korea to Switch to iPhone 12+
In April LG announced that is was officially shutting down it's smartphone business. The race is now on by most smartphone makers to lure LG customers their way and Apple is definitely one of them.
According to several South Korean tech sites, the South Korean unit of Apple Inc. will begin a trade-in program to woo LG Electronics Inc.'s smartphone users, in a move to expand its presence on the home turf of Samsung Electronics Co., the world's largest smartphone vendor.
Apple's smartphone exchange scheme with local mobile carriers will pay the trade-in value of a mobile device and an additional 150,000 won ($135) to those who replace their LG smartphones with iPhones.
People who have used LG's 4G and 5G smartphones for more than a month will be eligible to apply for the program scheduled to run through Sept. 25. They can exchange their LG smartphones for Apple's iPhone 12 or iPhone 12 mini, according to The Korea Times.
Such a promotion is separate from existing trade-in programs by local mobile carriers that are subscription-based. Apple got caught off guard with LG's announcement while Samsung jumped on an aggressive trade-in program immediately. A recent market report showed that 80 percent of LG's V50 ThinQ smartphone users switched to Samsung's Galaxy devices through mobile carriers' trade-in programs.
This is the first time that Apple has decided to launch a trade-in program for users of other smartphone brands. It will run exclusively in South Korea.
According to market researcher Counterpoint Research, Samsung represented 65 percent of the South Korean smartphone market last year, followed by Apple with 21 percent and LG with 13 percent.
To beef up its market share, Apple launched its first 5G smartphone, the iPhone 12, earlier than its usual schedule in South Korea. The US tech titan also opened its second Apple Store in Seoul in February.
It was reported at that time that Apple was working on two additional stores. Between the new stores and new trade-in promotion to win over LG smartphone users, Apple is diligently working to challenge Samsung on their own home turf.