LG Aiming to Overtake Motorola in Handset Rankings by 2010
LG Electronics is aiming to oust Motorola and take third place in the global handset rankings within the next couple of years. The company, which has an average market share of 9.3% aims to reach 15% within just eighteen months.
"We want to become a firm top-three player by 2010 and become number one eventually," Scott Ahn, president of LG's mobile communications division, said in an interview with the Financial Times, adding that "We will have to accelerate our pace in emerging markets to achieve that goal."
He also hasn't ruled out increasing outsourcing of handset production - which currently accounts for less than 5% of the company's total output.
Last month, the company announced that it had sold 7 million touch-screen based mobile phones by the end of the second quarter on this year. This comes just five quarters after LG launched its first full touchscreen handset, the Prada Phone by LG. According to a recent study by Strategy Analytics, the global touch-screen handset market will reach 125 million units by 2010, a more than four-fold increase of 2007’s 30 million units.
On the web: Financial Times
Posted to the site on 21st August 2008
