LG Reduces Sales Targets As Smartphone Division Struggles
Despite LG releasing many interesting and powerful devices, sales haven’t reflected the excitement. In a recent media briefing, LG reduced overall phone targets from 150 million to 114 million, a 24 percent drop, while smartphone targets down from 30 million to 24 million, a 25 percent decline. In a world where smartphone adoption is slowly but surely rising, the news may indicate LG might not play a large presence in the growth. LG has sold roughly 10 million various smartphones in the first half of the year, while in comparison Samsung, LG’s closest competitor, has already sold 3 million Galaxy S II phones in only 3 months. While LG is expected to post its fifth quarterly loss in a row, the upcoming release of the Thrill 4G in the US and the Optimus Black in Canada may partly soften the overall setback.