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LG could sell over 60 million smartphones this year

LG G3 flagship Android handset
LG G3 flagship
Multiple research firms expect 2014 to be the best year so far for LG's smartphone business, with estimated shipments of more than 60 million units.

While Samsung officials are not too happy with the company's performance during 2014, LG Electronics "is expected to ship a record numbers of smartphones this year powered by healthy sales of its G3-branded devices." Various South Korean market research firms believe LG will sell no less than 60 million G3 devices this year, thus making 2014 the best year in terms of sales since the company entered the smartphone market, back in 2010.

While Kiwoom Securities and Korea Investment "expect the annual sale of the G3 model to reach 60 million units," Daewoo Securities goes even higher with an estimation of "more than 62 million smartphones" - but The Korea Times article does no specify if this forecast includes only G3 devices or not.  Smartphone shipments by LG grew steadily since 2010, reaching 47.6 million G-series smartphones during 2013, claims LG.

According to an LG official, the company needs to stay ahead of Apple and "should be quick to appeal to existing and new customers before the debuts of new Apple phone(s)." This person also added that "There is no innovation in handsets." and made it clear that everything is about timing, after all. Remains to see if LG gets it right and lives up to the expectations.


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Codrut Nistor, 2014-08- 5 (Update: 2014-08- 5)