LG Electronics unveiled its new V10 premium smartphone in Seoul and New York.

The V10 is priced at 799,700 won ($678.98), which is relatively low for a premium handset. The company said it wants to reclaim its leading position in the global premium smartphone market, ending a recent slump in its business.

“With the smartphone market leveled and generalized upward, we tried to provide new user experiences reflecting actual needs, instead of merely following the trend in design and hardware specifications,” LG Electronics Mobile Communications Company President and CEO Cho Juno said at a press conference in Seoul, Thursday.

“With the V10, which has a differentiated design, high durability and versatile video recording functions, we pledge to solidify our leadership in the premium smartphone market again.”

Executive Vice President Cho Sung-ha said, “We recognized that many Korean customers still feel burdened by the consumer prices of premium smartphones. So we have made the V10 more affordable.”

The company said the V series will play a key role in its smartphone lineup, alongside the flagship G and G Pro series and other budget handsets.

“We plan to launch flagship models, one in the first half and another in the second half, in a year,” the CEO said. “At the same time, we will push budget models, which will also be important in boosting our sales.”

With a 5.7-inch quad high-definition (QHD) IPS main display, the V10 has two side frames made of stainless steel 316L, which is durable and corrosion-resistant. It has a “Dura Skin” silicon cover on the back that can stand shock and scratches, the company said.

It has a Qualcomm Snapdragon 808 application processor, 4-gigabyte (GB) memory and 64 GB storage. It also supports a micro SD external storage card of up to 2 terabytes and has a fingerprint recognition sensor and 3,000mAh removable battery.

The V10 has a second small screen on the upper right side of its main display.

This shows shortcuts for favorite apps, information such as weather, time and battery status as well as notifications on incoming and missed calls and messages. The second screen is operable even when the main display is off. This means users will be able to reduce battery consumption used to turn on the main screen to check such information and notifications, the company said.

Added to a 16-megapixel rear camera, the V10 has a dual-front camera. It has a wider angle of view and allows users to take selfies of multiple people even without a selfie stick.

It provides a professional video-recording mode where users can manually set the shutter speed and white balance, and has an electro image stabilization chip to offer more stable hand-held recording, the company said.

The V10 has a 32-bit digital-to-analog converter (DAC) audio chipset that produces higher-quality sound with professional-grade headphones.

The company said it will provide more software upgrades after the release.

“We are working to provide an upgrade to Google’s latest Android Marshmallow mobile operating system,” LG Electronics Mobile Communications Company Senior Vice President Kim Jong-hoon said. “We are also preparing to add mobile payment services.”

The V10 will be available in Korea and the United States first and then be rolled out in other major markets worldwide, the company said. In Korea, the company will launch the V10 through SK Telecom, KT and LG Uplus, Oct. 8.

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