LG preparing to launch blockchain smartphones - Report

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.