Doubling up global smartphone sales in just 12 months is no mean feat, but that’s exactly what LG has planned for 2013, thanks to a strong line-up of premium and budget products.
Investors and industry sources are estimating that LG is set to double the number of smartphones shipped out to market this year, reaching 50 million or more, compared to the 26.3 million units shipped in 2012. LG itself set a positive target of 40 million smartphones for the year, but clearly the wider industry believes that LG is set to break its own target.
The source of such optimism comes from a very bullish first quarter for LG Electronics. The company has already sold 10.3 million smartphones in 2013, and although that works out to a quarter of LG’s own sales target, the first quarter of the year is generally the off-season for smartphone sales. Therefore, forecasters expect LG’s products to leave the shelves even faster for the remainder of the year, easily surpassing LG’s 40 million target.
There are plenty of good reasons for LG to be optimistic about this year’s performance, as it now has a line-up of quality products like the Optimus G series, which are able to go toe to toe with devices from competitors. The company managed to push its way into the third place in the global smartphone market for the first time in Q1 2013.
On top of that, LG is expected to post another impressive set of figures for the second quarter of the year, due in no small part to the global launch of the Optimus G Pro, followed up by a strong range of more affordable products in its F and L series.
If there’s one thing the smartphone market could use, it’s some more competition. Can LG pose a serious threat to Samsung’s dominance? Perhaps not in the immediate future, but if it continues to produce quality products and comes out with more consumer pleasing business decisions like the Nexus 4, then LG could see itself in great shape over the coming years.