LG expected to sell record 60 million smartphones this year
While Samsung’s latest financial results gave investors no reasons to celebrate, the crosstown rivals at LG are looking forward to a much better year.
Analysts from several Korean investment firms estimate that LG could sell more than 60 million smartphones in 2014, thanks to the great performance of the G3 flagship. For comparison, LG managed to move 47.5 million smartphone units in 2013, and 26 million in the year before.
Daewoo Securities’ analysts bet on 62 million units for the full year, while the two top brokerage houses in South Korea, Kiwoom Securities and Korea Investment, are slightly more conservative, with estimates of 60 million.
One of the pillars of LG’s growth this year will be a big push in China, a fiercely competitive market where Xiaomi just toppled Samsung as the top smartphone seller. Here LG is reportedly coaxing the top carriers to place guaranteed orders in exchange of marketing support.
LG also has high hopes for the G3 in the United States, where it will launch promotional campaigns later this year. “Following positive reviews of the G3 from consumers in the overseas market, we expect the handset will continue to gain ground,” a company spokesperson told the Korea Times.
The “positive reviews” that LG boasts include our own look at the G3, which was the first phone to receive Android Authority’s Editors’ Choice badge. Our Josh Vergara loved the G3’s sleek design, revamped software, and fast camera, and countless other reviewers shared the same opinion.
In its latest quarterly results, LG announced record sales of 14.5 million smartphones and a 165 percent increase in net profit compared to the same period last year.