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LG aims to sell 38 pct more handsets in Europe
2008-02-07
Korean cell phone maker LG Electronics Inc (066570.KS) aims to sell 38 percent more handsets in Europe in 2008 than last year, helped by new models like Viewty, it said on Wednesday. LG said it aims to grow its market share in Europe to 10 percent as it strengthens its 3G phone line-up and boosts its brand. LG did not reveal its European market share, but its stake of the global market was 7 percent last year. LG said it aims to sell more than 13.5 million phones in Europe, compared with 9.8 million in 2007. "This year's 3G market is expected to be 64 percent of all cell phone sales in Europe, compared with 34 percent last year," LG said in a statement. Last month, LG, the world's fifth-largest cell phone maker, set a target of increasing its global phone sales this year by about 25 percent, to 100 million handsets. LG and three out of four of its larger rivals -- Nokia (NOK1V.HE), Samsung Electronics (005930.KS) and Sony Ericsson (6758.T)(ERICb.ST) -- have reported strong growth numbers in last quarters, helped by falling sales at Motorola (MOT.N). (Reporting by Tarmo Virki; Editing by Gary Hill)
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