LG has reported an 8% increase in handset shipments in
the fourth quarter of 2008, compared to the same period in 2007.
Shipments reached 25.7 million, with a record 100.7
million units sold in 2008, compared with 80.5 million units a year earlier.
The company’s mobile communications division saw sales
go up by 34.6% to KRW 4.49 trillion. Handset sales were up by 40.3% to KRW 4.09
The company’s business target is to grow and increase
market share, selling premium feature-packed models and smartphones alongside
mid-to-low end mass volume devices.
However, LG said it expected the global mobile phone
market to shrink by about 3% in 2009, with markets in developed countries
falling by double-digit percentages amid struggling economic conditions.
Analysts said that LG could gain from the turmoil
hitting some of its rivals, such as Nokia and Sony Ericsson.
LG is now the world’s no.3 handset manufacturer, after
overtaking Motorola and Sony Ericsson.