LG preparing to launch blockchain smartphones - Report

Layer 1s • September 9, 2019, 3:55AM EDT
UPDATED: September 9, 2019, 3:56AM EDT
Grzegorz Czapski / Shutterstock.com

South Korean electronics manufacturer LG Corporation is said to be launching blockchain-friendly smartphones soon.

The company has already completed the market research of blockchain companies and decentralized apps (dApps), local media outlet IT Chosun reported Sunday, citing an industry source.

“LG is likely to respond to Samsung's innovation initiative," the source added. Another official familiar with the LG Group told IT Chosun that the company has been “struggling to apply blockchain to smartphones without any dissimilarity."

Just last week, LG rival Samsung launched yet another blockchain-friendly smartphone, dubbed “KlaytnPhone,” as a Galaxy Note 10 variant. The phone, currently available only in South Korea, is named after Kakao’s blockchain subsidiary GroundX’s blockchain platform Klaytn, and starts from over $1,000.

Earlier this year, Samsung also launched the Galaxy S10 smartphone, which offers a cryptocurrency wallet and dApps. The company was also planning to expand these features to budget Galaxy phones in an attempt to draw more people to blockchain technology.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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