LG eyes over 10-pct global handset market share in 2009

SEOUL, Dec. 3 (Yonhap) -- LG Electronics Inc. aims to raise its share of the
global mobile phone market to the 10-percent range in 2009 by selling more
handsets in emerging markets, a company executive said Wednesday.
LG Electronics, the world's fifth-largest handset maker, had an 8 percent share
of the world market as of September. The company's global sales have been growing
at an average annual rate of 30 percent over the last five years.
"The target is within our reach because LG is a growing brand," Ahn Seung-kwon,
head of LG's mobile communications division, told a press conference. "LG's brand
recognition and competitiveness hasn't been reflected sufficiently in its market
share."
To achieve the goal, LG Electronics plans to double the number of its outlets in
emerging markets such as Brazil, India and China,
However, he said the company's sales would grow "slightly" in 2009 from this year
due to a global slump sparked by the U.S.-initiated financial crisis.
"The sales growth rate is sure to slow down next year," Ahn said, without
disclosing specific figures. He also failed to say how many handsets the company
hopes to sell worldwide in the coming year.
LG Electronics, which also makes home appliances, counts on handsets for 40
percent of its revenue. Third-quarter profit from its wireless business more than
doubled to 384.3 billion won ($269.4 million) from a year earlier.
odissy@yna.co.kr
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