Driven by a strong demand for its flagship G3 and cheaper
L series phones, LG Electronics' phone sale has gone up to a record 16.8
million in the third quarter of this fiscal.
In contrast to the fellow South Korean counterpart
Samsung Electronics, which has projected 60 per cent fall of revenue due to
sluggish demand, LG has reported increase in operating profit in the third
quarter as the sales went up to 39 per cent year-on-year, due to high demand
for its G3 and cheaper L series phones - L Fino and L Bello.
Yoon Bu-hyun, LG's chief of mobile division, said, "The
market response for G3 has been good... and we expect that smartphone market to
grow continuously, especially for LTE."
LG is currently preparing to roll out G Flex, a curved-screen
smartphone, Yoon informed without giving further details.
"G3 has proven its worth in terms of
competitiveness against several high end mobiles including Samsung's Galaxy S5.
This has boosted the expectation for LG’s next big ticket release - G4,"
said an analyst at Mirae Asset Securities in Seoul.
LG is believed to have sold about 4 million G3 sets
compared to 5 million sets of Galaxy S5 in the same period, which is pretty less
compared to Galaxy S3 and S4.
The global demand for LTE smartphones will reach 63
billion from 43 billion in 2015, with emerging markets making the most of it.
LG's net profit stood
at 203 billion won with revenue reaching at 14.92 trillion won in the quarter.
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