LG has achieved the 10 million milestone for worldwide sales of LTE enabled smartphones in spite of losing market shares. The South Korean smartphone company LG or ‘Lucky-Goldstar’ have managed to sell more than 10 million LTE enabled smartphones worldwide and is on the way for more.
LG Electronics recently announced that it has sold more than 10 million LTE enabled smartphones. Six months earlier, the company announced that it had crossed the 5 million mark, and now it has crossed the 10 million mark.
This is a remarkable achievement for the company since it has been able to achieve this target in spite of the odds. LG has been losing market share, and at the same time there are lot of competitive products being launched in the market that are a threat to the company in terms of sales and market share.
The CEO of LG, Jong-seok Park said in a statement that
“Aggressive pushing forward with 4G LTE technology allows LG (to) satisfy the needs of consumers and is a huge factor in our growing success in global LTE smartphone sales. Having established ourselves as a major industry player, we will continue to expand our footprint in the global LTE market with a wider range of differentiated, high quality LTE smartphones.”
LG has no intensions of stopping since the company seems to be on a roll. LG said that it wants to double its LTE smartphone sales and market in the year 2013. Recently the company rolled out the LG Optimus G in more than 50 countries, and this is also one of the main reason for the company’s success. Countries like the United States, Japan, Germany, and South Korea have been the main focus.
In spite of good sales figures, LG has been losing market share in the LTE market. Samsung still remains the market leader with 40 percent share, Apple is second with 26.7 percent whereas the market share of LG fell from 15 percent to 9 percent.
LG said that it is targeting the spectrum of LTE customers depending upon the various user segments in the market. The G series will be targeted towards the big buyers, the F series will be for the regular segment and the L series will be for the low end users.