LG Cuts Price for Flagship Smartphone

LG Electronics will reduce the price of its flagship smartphone G3 from W899,800 (US$1=W1,114) to W799,700.

Subscribers on two-year contracts will get discounts ranging from W150,000 to W264,000, and customers who turn their old phones get a rebate.

Pantech slashed the price of the Vega Iron 2 from W783,200 to W352,000 last week, and the handset has been selling over 5,000 units per day.

LG plans to upgrade the operating system for the G3 to Android 5.0 Lollipop within the week. G3 users can download the latest version online, with the update to be expanded to other phones going forward.

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