LG handset sales to top $3.9bn

July 14, 2014 - 12:32:39 am

Seoul: South Korea’s No. 2 tech giant LG Electronics Inc is expected to see the combined sales of its handsets surpass 4 trillion won ($3.9bn) in the third quarter, analysts said yesterday, citing robust shipments of its flagship smartphone.

It would mark the first time for the latecomer in the smartphone industry to see its handset sales hover above the 4 trillion won mark since the third quarter of 2009. 

Analysts attributed the expected sales improvement to LG’s latest smartphone, the G3, which has been receiving positive feedbacks from overseas markets. LG released the G3 in the United States through four mobile carriers, Verizon Wireless, AT&T, T-Mobile and Sprint this month. The G3, first launched on the domestic market at end-May, is currently being sold in several Asian and European countries, including Singapore, Hong Kong, Britain and France.

Analysts added the sales of the G3 in China, the world’s largest mobile market, slated to start during the third quarter, will also lend further support to LG’s top line.

“Despite the launch of the iPhone 6 (slated for the second half of 2014), the combined sales of the G3 will reach 6 million units globally this year,” said Mirae Asset Securities Co.

Daishin Securities Co. echoed the view, saying LG’s profitability in the third quarter will improve as the company changes its focus to high-end models, compared with the low-end-oriented strategy in the April-June period. QNA