Smartphone manufacturer LG has put plans to roll out its new LG Pay mobile payment system on hold until after Mobile World Congress, a Korean news agency reported.
According to the Korea Times, LG made the decision to avoid the possibility of LG Pay overshadowing its new flagship G5 smartphone.
The mobile payment system, which aims to give rivals like Google’s Android Pay, Apple’s Apple Pay and Samsung’s Samsung Pay a run for their money, is now scheduled to launch in the second quarter of this year, a company spokesperson told the Korea Times.
In issuing its statement, the company denied the delay had anything to do with difficulty signing agreements with card issuers in its target markets. In November, LG announced it has already signed on to work with two local South Korean banks – Shinhan Card and KB Kookmin Card – to launch LG Pay. Partnerships with banks in the U.S. market have not yet been announced.
LG’s G5 smartphone will be launched on Feb. 21 just ahead of Mobile World Congress in Barcelona.
The device will include a 5.3-inch LCD display and will be the first released under LG’s new mobile chief Cho Juno.
According to a recent report from Parks Associates, LG remained the third most popular smartphone brand in the U.S. in 2015, accounting for 10 percent of the smartphone market share to Apple’s 40 percent and Samsung’s 31 percent.
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