LG sees increased handset shipments in the fourth quarter

LG sees increased handset shipments in the fourth quarter

 

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 trillion.

 

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.

 

Written by Mobile Today
Mobile Today

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