LG Electronics is the biggest competitor to Samsung when it comes to domestic relationships. Many industry experts believe that LG will soon offer its own blockchain smartphones as a follow up to Samsung’s recent development – KlaytnPhone.
According to the report published by a South Korean daily newspaper Chosun, many industry experts are more than convinced that LG is likely to unveil its own blockchain phone. When speaking about an approximate time frame – they believe it’s going to happen soon. However, not all experts are so positive about an upcoming LG Blockchain phone. Some believe that it also might be a completely different innovation for smartphones.
Earlier this year, during the time when Samsung announced their new Blockchain Wallet, LG says they met with several decentralized app (dApp) developers to discuss a possible collaboration in the future.
Additionally, Chosun quoted an unnamed technology insider who said that Samsung could potentially be a more attractive platform for dApp developers:
“[Samsung] makes a more attractive proposition for blockchain developers [as the company] already has a crypto wallet for smartphones and a dApps marketplace.”
Earlier this year, Samsung launched the new Galaxy S10 smartphone with an integrated cryptocurrency wallet app and the ability to support decentralized applications. Later they announced a plan to offer this to their budget Galaxy phones in order to raise mainstream awareness for blockchain.
And now, just a week ago, Samsung announced their blockchain-friendly smartphone “KlaytnPhone”. This phone is currently available only in South Korea for approximately $1,000. However, it turns out that LG just recently filed a patent in the United States for a cryptocurrency wallet for smartphones. Also, LG is a member of GroundX’s Klaytn governance council.
Does this mean that LG will also use the Klaytn blockchain?
When looking at LG Electronics stock price – we see that this year the price has gradually fallen. It went from $14 to $9. But after this news, there is a small pivotal point and a small hope pattern has been formed. Now the stock has recovered a little bit, and sits at $10.84. LG needs to present their new technological innovations in order to boost their stock price and maybe potentially draw more new investors and customers by doing so.