One big reason not to buy the LG V40 right now

With the V40 ThinQ, LG has brought out another good quality phone with what our review calls an “unreasonably expensive” price. However, while pre-order pricing makes a more lasting impression when evaluating a device, remember that LG phones get cheap shockingly quick.

Unequivocally, LG drops its prices faster and harder than any other manufacturer. The South Korean company’s last three flagship-tier devices were the LG G7 ThinQ, LG V30, and the LG V30S ThinQ. They started at a pre-order price of $749, $829.99, and $929.99 respectively. Each saw dramatic drops in price — fast.

The LG G7 dropped $200 in a week. Just a week!

It’s not just the G-range either. Here are our most recent stories on the price of V30S. Just from the headlines, you can see the fall in price from $929.99 to $600 happened in less than 100 days.

• The LG V30S ThinQ is more expensive than the Galaxy S9 in South Korea – March 8
• LG V30S ThinQ pre-orders open in US (Update: shipping now for $729.99) – May 16
• Deal: LG V30S ThinQ gets another price cut, now down to $679.99 – May 29
• Terrible name, great price: LG V30S ThinQ for just $600 ($330 off) at B&H – June 13

Have a look how the earlier LG V30’s price folded by an incredible amount:

The LG V30 started for pre-orders at $829.99. It dropped $200 within a few months, and took another $150 off in late August — $830 to $464.

These drops were reflected on secondhand selling sites like Swappa, too:

No other premium maker, flagships or otherwise, depreciates its smartphones as rapidly — certainly not Apple, Samsung, or Google. This hurts LG’s resale value and brand perception, but it creates an opportunity for those on tighter budgets who know the company makes quality devices.

Generally, LG phones are great to buy late. The one exception to this was in Canada, where LG offered quite an incredible pre-order promotion:

Buy a phone, get a free 43-inch LG TV — remarkable stuff, but only in Canada as far as we’re aware. Sadly, Canadians will miss out with the LG V40, which isn’t for sale in the most north of North America.

The LG V40 ThinQ

We all hoped LG might change its approach with the LG V40, but it’s retailing at a monster $900 plus, depending on where you buy it. We didn’t spot any TV deals with pre-orders, but Verizon’s pre-order deal was pretty generous. Depending on how you pay, it cuts $200 off the price straight away while offering a free 256GB SanDisk microSD card and adapter, DJI Osmo Mobile 2 Gimbal, and more for trade-ins.

October is the busiest month we’ve ever seen for flagship releases. LG’s new flagship will compete with heavyweights like the Google Pixel 3, HUAWEI Mate 20, Nokia 7.1, OnePlus 6T, Razer Phone 2, and possibly more — we’re calling it #phonepocalypse. That kind of competition is great news for smartphone buyers who need a new device, and it’s likely to heap pressure on prices as well. LG already buckles to most price pressure, so it’s natural to expect some pretty significant drops soon — especially leading up to Christmas, with Black Friday and Cyber Monday likely to generate deals.

Unless Verizon’s pre-order giveaways look like a LG-shaped offer you can’t refuse, it’s a safe bet to wait it out. Wait a week, it might drop $200. Wait a few months, and it’s likely you’ll save as much as $300.

Soon enough the V40 will be a sneaky bargain.