LG Electronics has unveiled a mid-range 5G smartphone as the South Korean tech firm sought to overcome a slump in its mobile business with price-competitive devices.

LG said the Q92 will go on sale in South Korea on Wednesday with a price tag of 499,400 won or $420. The handset is the first 5G-supporting model in LG’s Q series.

The Q92 5G smartphone comes with quad rear camera setup. It features a 48MP main camera, an 8MP ultrawide lens, a 5MP depth sensor and a 2MP macro lens. It has a 32MP selfie camera on the front.

The latest smartphone, powered by the Qualcomm Snapdragon 765G chipset, features a 6.67-inch punch-hole display.

The Q92 offers 6 gigabytes of RAM and a 128-gigabyte base storage option that can be extended to up to 2 terabytes via a micro SD card. It has 4,000-mAh battery.

LG hopes the Q92 can boost its presence in the 5G market here. South Korea had 7.3 million 5G accounts in June, accounting for just over 10 percent of the 69.6 million mobile accounts in total, according to science ministry data reported by Yonhap news agency.

SK Telecom and KT are the leading telecom operators in the 5G business in Korea.

The Q92 is likely to compete with the Galaxy A51 5G from Samsung Electronics in the domestic budget 5G smartphone market. The Galaxy A51 5G, which was launched in May, has been sold at 572,000 won here.

LG has been trying to turn around its struggling mobile business with new smartphones, including the Velvet, recently.

LG’s Mobile Communications division posted an operating loss of 206.5 billion in the second quarter of the year, extending its losses to 21 consecutive quarters. Its revenue declined 18.9 percent on-year to 1.31 trillion won in the April-June period.