Xiaomi wants to occupy LG’s place in the market

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With the possible closure of the cell phone division of South Korean LG, Xiaomi is already outlining plans to occupy the space of the rival in the South Korean market. Thus, the Chinese manufacturer confirmed the launch of two intermediary devices in the country.

For 218 thousand won (about R $ 1,060), the Redmi Note 10 will be launched on March 30, 2021. Meanwhile, the Redmi Note 10 Pro will arrive in Korean stores on April 9, 2021 for the price of 319 thousand wones (R $ 1,555).

The launch of the Redmi Note 10 line would be the beginning of Xiaomi’s efforts to take LG’s space in South Korea. To attract the local consumer, the Chinese brand will bet on medium-sized devices with high quality specifications.

According to Counterpoint Research, a mobile market monitoring agency, intermediary devices accounted for 41% of the Korean market in 2020. This represents growth, since that number was 34% in 2019.

Presenting a great cost-benefit ratio, the Redmi Note 10 line becomes an excellent smartphone by Korean standards. So, if local consumers see this advantage, Xiaomi will have a great start to its strategy.

LG is the 3rd largest smartphone brand in South Korea

Despite the recent rumors, LG was the third largest smartphone maker in South Korea in 2020. According to data from Counterpoint Research, the brand holds a 13% share of the mobile market in the country – something that is not as bad as it looks.

The same survey reveals that South Korean Samsung leads the country’s market with a 65% share. Second, the North American Apple appears with only 20%. So, it remains to be seen when Xiaomi will win the third place in this dispute.

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