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LG handset sales fall by ten per cent

Tim Green
LG handset sales fall by ten per cent

Down to 24.5m units in the quarter, as Korean firm posts second straight quarterly loss.

The mobile-phone business posted a loss for a fourth quarter in a row, contributing to an overall loss of 15.8 billion won ($15 million), compared with 674.6 billion won profit a year earlier.

LG has been in the doldrums since the glory days of its Chocolate and Shine phones in 2007.

Android has helped the firm reverse its decline a little, with the Optimus range selling 2m in the quarter.

But still the series has failed to hit the heights achieved by HTC and by its compatriot Samsung with its Galaxy family.

The mobile phone division had a loss of 100.5 billion won, compared with analysts’ projection for a deficit of 104.4 billion won.

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Hopes now rest on the success of its Optimus 3D smartphone, the first 3D handset from a major vendor in Western markets.

LG expects to sell 150 million phones in 2011. Its sales were around 115m in 2010, giving its a 7.1 per cent market share according to Gartner.




Tags: lg , financials , optimus , fiscals , Android

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