LG Posts Positive Q2 Results, Poised To Take No. 3 Spot
Their tagline rings true, as life certainly is good for the Korean electronics manufacturer if recent financial reports are anything to go by.
Despite their other electronic devices performing well, LG’s mobile sector has been particularly buoyant of late. Selling a record 27.7 million mobile phones from April to June, they have attributed their successes to the luxury handsets performing well with the Secret, the Viewty, and even their cut-price contender, the Orsay attracting huge sales. Also, their focus on the emerging sectors of India and South America has proved profitable.
This puts LG in a strong position moving forward, and with a 9.1% market share and over 50 million sold this year alone, many analysts feel that they could overtake the ailing Motorola to become the third largest phone maker. As recently as March, some were speculating as to whether they could overtake Sony Ericsson, and it took place as predicted only last quarter.
LG does recognise the economic downturn will hit them however, predicting a slowdown in sales for the second half of the year, as fewer new models are released. Still, in light of the difficulties faced by their competitors, LG’s optimistic goal of selling 100 million handsets for 2008 is refreshing.
