Apple Reportedly Agrees to Deal to Sell iPhones in Korean LG Retail Stores From August

LG has agreed to sell Apple's iPhones, iPads, and Apple Watches at its "LG Best Shops" in South Korea from August, according to a report by the local Herald Economic Daily.

iphone 12 box
The Apple products will go on sale at 400 LG stores across the country. As part of the agreement between the two parties, all Macs are excluded from the sales, since LG's laptop offerings overlap with Apple computers.

The news comes after initial stumbling blocks over the proposed deal appeared to make an agreement unlikely. According to the report, LG faced stiff resistance from the National Mobile Communication Distribution Association, which viewed the proposal as a direct violation of an earlier "win-win" competition agreement to do with the sale of mobile phones.

However, a "negotiable in case of change" clause in that agreement has been cited by the regulatory bodies to argue that it is too early to judge whether LG is in violation, given its changed position in the industry.

LG Electronics recently announced its withdrawal from the smartphone business, and when it completely withdraws from the mobile business at the end of this month, retail space previously used for marketing its handsets will be vacant. Apple meanwhile saw an opportunity to increase its retail presence in Korea, and the two companies began negotiations.

Korea's Distribution Association is reportedly awaiting LG's official statement on the matter while it renegotiates the win-win agreement once it starts selling Apple's products in its stores.

Tags: LG, Korea

Top Rated Comments

jdavid_rp Avatar
1 week ago

Now we know why LG gave up the Phone business, I smell secret agreements here.
Maybe the next iPhone display will be from LG, or some other component.
Buying away the competition...
They gave up because they just weren't selling phones lol. I dont think Apple would do an agreement like that, they will choose the best component that is available for their devices. If the next iPhone has a LG display it will be because their quality comply the apple standard. Not need to risk the quality for some agreements
Score: 7 Votes (Like | Disagree)
senttoschool Avatar
1 week ago
Let's go! Apple stock to the moon. ??
Score: 4 Votes (Like | Disagree)
ian87w Avatar
1 week ago

Colour me a little bit surprised. I knew they were close, but I didn't realize they were so close that Apple would be willing to do this. I guess practicality trumps pride this time around.
Apple only has like, I think two Apple stores in S. Korea. In contrast, Singapore has 3, and Japan has 10 (to draw comparison with other developed Asian markets). So Apple definitely needs more retail presence. Imo it's a win win. LG gets some use and money out of the space they already have, Apple has access to hundreds of retail channels almost immediately. Not quite sure where pride goes in this context.
Score: 2 Votes (Like | Disagree)
ghanwani Avatar
1 week ago
Makes sense given that LG is exiting the phone business.
Score: 1 Votes (Like | Disagree)
DelayedGratificationGene Avatar
1 week ago
LG and Magna are going to manufacture the Apple Car. LG knows where it’s future revenue is so of course it will sell iPhones in its store. Nice to keep your future Partner happy.
Score: 1 Votes (Like | Disagree)
Spike1999 Avatar
1 week ago
They might as well, as LG stores have space to stock them now ?
Score: 1 Votes (Like | Disagree)

Top Stories

apple store retail

Apple Reportedly Wants to Sell Products in Korean LG Retail Stores [Update]

Thursday June 17, 2021 12:05 am PDT by
Apple is reportedly eyeing a new partnership with LG that would allow the South Korean tech giant to sell iPhones, iPads, and Apple Watches at its more than 400 retail "LG Best Shops" in South Korea, according to a report from Business Korea. LG recently shut down its smartphone business, leaving retail space previously used for marketing its handsets being left empty. Apple is now,...
Apple car wheel icon feature triad

Apple Car May Initially Be Made in Small Numbers by LG Magna e-Powertrain

Tuesday April 13, 2021 5:40 am PDT by
Apple is "very near" to signing an agreement with LG and Magna to build its long-rumored electric vehicle, according to The Korea Times. LG Electronics has publicly undertaken a joint venture with the Canada-based automotive supplier Magna International, in a collaboration preliminarily titled "LG Magna e-Powertrain." LG Magna e-Powertrain is currently valued at $1 billion and will...
lg wing

LG to Shut Down Smartphone Business

Monday April 5, 2021 12:30 am PDT by
After five grueling years of financial losses and uncertainty about the future of its mobile handsets, LG Electronics today announced its intention to shut down its smartphone division. In a press release, LG says the decision to shut down its smartphone business will allow it to focus on other sectors such as artificial intelligence, home computing, and business-to-business solutions. LG's ...
iPhone and LG V60 Swap Feature

Apple Attempts to Incentivize LG Smartphone Users to Switch to iPhone Following LG Handset Business Shutdown

Wednesday June 30, 2021 6:46 am PDT by
Apple is now keen on utilizing LG's recent shutdown of its smartphone business by adding several flagship LG smartphones to its list of eligible Android devices that can be traded for credit towards a new iPhone purchase. Apple today added some LG smartphones to its list of devices eligible for trade-in towards a new iPhone, including the LG G8 ThinQ for up to $70, the LG V40 ThinQ for up to ...
LG Rollable

LG Looking to Shut Down Smartphone Business After Failing to Find a Buyer

Monday March 22, 2021 7:04 am PDT by
LG is looking to close down its entire smartphone division after failing to find a buyer for the ailing section of its business, according to the Korea Herald. In January, LG announced that it was considering options for an exit from the smartphone industry, "including sale, withdrawal and downsizing." Though LG was once the world's third-largest smartphone maker and a sizeable competitor to ...
lg wing

LG Considering Exit From Smartphone Business, Halts LCD Production for iPhone

Wednesday January 20, 2021 5:38 am PST by
LG is considering exiting the smartphone business entirely amid declining shipments and accrued losses of $4.5 billion over the past five years (via The Korea Herald). LG CEO Kwon Bong-Seok cautioned staff earlier today that the company is re-evaluating its presence in the smartphone industry: Since the competition in the global market for mobile devices is getting fiercer, it is about...
CNMC spain

Apple and Amazon Under Investigation in Spain for Possible Anti-Competitive Practices

Friday July 2, 2021 2:27 am PDT by
Apple and Amazon are facing antitrust disciplinary proceedings in Spain for possible restrictive competition practices around the sale of Apple products, it has emerged. In a >press release, the country's National Commission on Markets and Competition (CNMC) said it had initiated the proceedings against both companies for "possible anti-competition practices in the sectors of Internet sales...
120 hz 13 joe blue

Samsung Reportedly Begins Production of 120Hz Display for Upcoming iPhone 13 Pro Models

Saturday May 29, 2021 10:42 am PDT by
Samsung has begun production of LTPO displays for the upcoming iPhone 13 Pro and iPhone 13 Pro Max, which will support a high refresh rate of 120Hz, while LG has begun production of LTPS displays for the lower-end models of the 2021 iPhone lineup, according to a new report from The Elec. Apple was widely rumored to introduce its ProMotion technology, which first debuted in the 2017 iPad Pro, ...
app store blue banner uk fixed

Apple Could Be Forced to Follow New Digital Competition Rules or Face Fines, Under UK Proposal

Tuesday July 20, 2021 1:25 am PDT by
The U.K. government is today unveiling its plan to regulate tech giants, such as Apple, to ensure that the U.K's digital market, which includes platforms such as the App Store, is open for competition, and not dominated by any particular company. In April, the U.K. created the DMU or Digital Markets Unit under the Competition and Markets Authority. With newly given powers, that new unit will ...
apple marina bay sands 3

Apple and Tim Cook Celebrate 40 Years of Company's Presence in Singapore

Thursday July 22, 2021 4:28 am PDT by
Apple today celebrated four decades of the company's presence in Singapore, which was just 16 years old as a nation when Apple's first office opened there in 1981. Apple Marina Bay Sands retail store In a press release, Apple hailed its base for Asia Pacific operations as a globally recognized center of innovation and expertise, dedicated to embracing a "high-tech vision for the future." "We'...