LG’s smartphone sales are projected to hit an all-time high during the second quarter of this year. South Korea’s second largest smartphone maker is expected to sell some 15 million handsets during the three months ending June 2014 and surpass its previous Q2 record of 12 million units.
The news of LG’s performance comes from the Yonhap News Agency and is based on data from Mirae Asset Securities Co. According to the analysts, LG should hit is target of selling 5 million handsets per month during this quarter. This forecast is backed up by data from Strategy Analytics which calculated that LG sold 4.4 million units every month during the last quarter of 2013. Assuming a reasonable growth in sales then it is likely that LG will hit the 5 million per month target.
It is thought that a lot of the success is due to LG’s strategy of targeting niche markets with its lower-end models including the G2 mini along with the L and F series. It is also probable that China is becoming an lucrative market for LG as the country is moving to 4G, an area where LG is more advanced that the Chinese OEMs.It is estimated that LG will sell 60 million smartphones this year.
If its handset sales continue as predict it is estimated that LG will sell 60 million smartphones this year. This all means that LG’s mobile business should make a profit this year and reverse it current loss-making trend. The company’s mobile division reported a loss of over $41 million for Q4 2014, some of which was due to the increased marketing costs needed to take on the likes of Samsung and Apple.
