Record sales boost LG to world’s No. 3 smartphone maker

According to export statistics of mobile phone manufacturers across the world, it is seen that just this month, the number of smartphones exported finally exceeded the numbers of feature phones exported for the first time in history. This means that there are now more people than ever in the world, embracing and relying on smartphone technology. A recent Reuters report states that LG Electronics of Korea has emerged as the world’s No. 3 smartphone maker in the US$ 223 billion market, spurred on by record sales of high-end models of the LG Optimus series.

LG’s smartphone market share rose to 3.2% in the fourth quarter with sales soaring to unprecedented heights to become No. 3 in the smartphone market ahead of rivals HTC, Sony and Blackberry. The boosts in sales of LG smartphones have pushed LG Electronics shares up by 54% to recover from their 2012 low in July. The shares ended trading at 2% up on Thursday, at 86,600 won, which is the highest price traded for more than a year.

LG’s high-end models of the Optimus series have made huge inroads to capture world markets because of their powerful and innovative hardware and software features and an exceptionally fast 4G connection. In fact, the LG brand has even been voted as the No. 1 smartphone brand in leading consumer magazines. LG is optimistic that the trend in booming sales will also help to increase sales of their lower-end segment as well.

LG has already announced that software upgrades for its flagship Optimus G Pro. The model will allow users to access features that Samsung touted as major selling points of its upcoming Galaxy S4. The move is the latest attempt to boost appeal to upmarket consumers before rival products hit the market. The features that LG will be introducing include motion detecting technology that stops and starts videos depending on whether someone is looking at the screen and snapping pictures.

The five-inch Optimus Pro was launched in South Korea in late February and in Japan earlier this month. It is LG’s fastest selling smartphone with record sales hitting 500,000 units in the first 40 days of the launch. Analysts predict that LG’s smartphone shipments will rise by 16% to a record 10 million units after 8.6 million phones have already been sold in the fourth quarter. This is believed to be a strong performance, judging by the overall market dropping by 6% from the strong year-end holiday quarter. LG’s first quarter results are expected to be out on 24 April.

A spokesperson for Abans, the agents for LG mobile phones in Sri Lanka, said that his “Company is proud and happy to learn that LG had emerged amongst the top three smartphone makers in the world, close behind mobile phone giants such as Apple. LG Optimus series was very popular and fast selling in Sri Lanka because consumers today were looking for genuine phones packed with high end features and a reliable after-sales-service and availability of spare parts which we are able to offer our customers,” he added.

LG is also a brand that is committed to increasing data speeds from 3G to 4G LTE and their new and innovative phone designs are evidence of a progressive future in the market. Eighty percent of networks worldwide are steadily moving towards 4G arenas and devices are required to take advantage of this amazing change. The spokesperson added, “We are confident that LG will soon be the leader in 4G LTE devices globally, as well as in the Sri Lankan market as well. The Sri Lankan Market is quickly adopting new technology and with the Government aiding the cause by opening up the market with import taxes and duties being slashed, many more Sri Lankans are being given the opportunity to use and experience this incredible technology.

“The Government is also pushing for low cost internet charges also means that internet penetration will now be deeper than ever before in rural regions. The penetration of smartphones into these rural markets, are surely the logical step that will eventually follow. We hope that Abans, with over 420 showrooms islandwide, and over 2,000 established dealers will forge the way ahead with regards to this exciting new endevour.”