New Crypto Phones Could Emerge in the Market As LG Wants to Follow Samsung into the Space: Report

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  Yuri Molchan

  Mon, 09/09/2019 - 11:46

  📰 News

  South Korean media reports that LG is considering a dive into the crypto space to make DLT phones, following the suit of Samsung and HTC

A report by the South Korean news platform IT Chosun says that the electronics giant LG is going to follow its rival Samsung right into the crypto space and compete for the attention of crypto phone users.

LG to follow HTC, Sirin Labs and Samsung

The South Korean source says that LG has already conducted the necessary research of companies working in the area of DLT and dApps. The news outlet believes that LG is very likely to accept the challenge thrown by Samsung.

Last week, the Samsung giant released another smartphone that has an embedded digital wallet – it was done together with the Kakao giant, based on the Klaytn blockchain network.

As U.Today reported earlier, this ‘KlaytnPhone’ is expected to be cheaper than Samsung Galaxy S10 that also has a crypto wallet built-in. 

HTC and Finney were the first to embrace crypto

The world-famous HTC giant started working on its crypto phone Exodus last year and so did Sirin Labs aiming to make their Finney smartphone.

Both were released at the start of 2019, being sold both for fiat and crypto.

However, due to poor sales, Sirin Labs had to lay off a quarter of its staff in spring this year.

‘Most people's phones will have a wallet’

Some believe that since the crypto is the future, the same will go for blockchain phones - they will have crypto wallets installed in factories.

The founder of HEX, Richard Heart, is one of those believers.

#Crypto will continue to grow. On ramps will get easier. Marketcaps will be far higher. Most people's phones will have a wallet from the factory. You're in early.

— Richard Heart (@RichardHeartWin) September 9, 2019