LG Electronics (LG) started the year off strong as it announced first quarter smartphone sales of 10.3 million units.
LG Electronics (LG) started the year off strong as it announced first quarter smart phone sales of 10.3 million units. This is the first time that the smart phone manufacturer has exceeded 10 million units sold in the first quarter and puts it on track to hit 45 million units sold by end of the year.
According to market research firm Strategy Analytics, aside from Samsung and Apple, no company sold more than 40 million units last year. Nokia was the closest with 35 million units sold.
LG has its sights set on crossing the 40 million unit barrier this year through strategic phone releases, aggressive marketing, and distribution. Expect to see the Optimus G2 released in the US in the second quarter, in addition to the world's first ever flexible OLED smart phone in the fourth quarter. LG advertisements and stores will also become more prevalent as LG looks to increase its brand power.
The biggest threat to LG's rise is from China smartphone manufacturer, Huawei. Just last quarter, Huawei reported sales exceeding 10 million units. Some analysts are even predicting that Huawei's sales this year could top 60 million.