Rendered image of the new LG Velvet smartphone by LG Electronics. [LG ELECTRONICS]LG Electronics is rebuilding its sluggish smartphone business from scratch, announcing Sunday that it will ditch both of its existing product lines and go all in on the “Velvet,” its latest attempt to compete in the market.The LG Velvet will launch next month in Korea, the company announced, while offering a glimpse at the forthcoming gadget.The new branding is intended to show the company is “moving away from alphanumerical designations in favor of familiar and expressive names that will help the consumer capture the essence of the device,” LG said in a statement.The company’s two high-end smartphone brands, the G and V series, will be discontinued, the company said.The G series was one of LG’s earliest smartphone brands, launched in 2012 under the guidance of former LG Group Chairman Koo Bon-moo. The V series started in 2015, with a slightly larger screen and an emphasis on multimedia.Both lines were named by combining alphabets and numbers, as did the latest G8 ThinQ and V60 ThinQ. From now on, LG avoids alphanumerics and attaches a nominal name exclusive to each product, which the company said it hopes will help establish… Read full this story
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