Tag: LG smartphones

LG Electronics to double mobile devices with 15 in 2016

This is a direct reflection of the company’s expansion in the massive Indian smartphone marketplace.

LG Electronics India has now announced its intentions to double the number of mobile devices it will have to offer in 2016, as it plans to launch about 15 different smartphones across a range of different price points.

The new mobile phone offerings are meant to boost its overall revenue through mobile sales sources.

At the moment, LG Electronics brings in about 7 to 8 percent of its overall revenue through the sale of mobile devices in India. It currently sells about 13 models of cell phones in the country. That said, the sales that it has seen have been considered to be disappointing and the company is hoping to change that situation dramatically.

According to Ki Wan Kim, the managing director of LG Electronics India, “This year, performance of our mobile business has been disappointing. We will launch around 15 mobile models next year. In three years time, my target is to make all our product categories to contribute equally in percentage terms to our total sales… bring mobile sales to similar level of consumer durables.”Mobile Devices - LG India

There are four main areas of mobile devices, including smartphones, that are the main focus of LG India.

Those four categories are currently mobile gadgets, home appliances, home entertainment, and air conditioners. While the company does plan to boost its sales within the country, it doesn’t have any intention to begin manufacturing in the market.

They had previously manufactured in India, but they have ceased that operation and haven’t any current intentions to return to the activity. Should the company consider returning to manufacturing in India, it will require sales to justify the decision. Ki Wan Kim stated that “Our future sales forecast should be stable to keep our factories operational.”

Among the main areas of focus for the sale of mobile devices in the country will be smartphones. This market has been seen as a massive opportunity by many handset makers due to the expansion of the demand for the technology and the relatively low penetration, so far, when compared to other markets.

Latest smartphone trends show 25 percent surge in LG sales

The success of the LG G3 is being credited for a large part of the successes that the company has experienced.

LG Electronics Inc. has been sitting in the shadow of its larger South Korean counterpart, when it comes to leading the top smartphone trends, but it has still managed to be able to carve out its own space within this market.

According to some of the latest figures, 2014 represented considerable progress in the rise of that business.

The smartphone trends at LG looked very good in 2014, at which time industry sources claim that it saw an increase in year over year sales of 25 percent. This greatly had to do with the popularity of the LG G3 model. Last year, this second largest tech company in South Korea was estimated to have shipped 59.6 million mobile phone units. This represented an increase of 25.2 percent over the figures from 2013, which were 47.6 million shipped units.

LG has been a part of global smartphone trends since 2009, when it first entered into that market.

Smartphone Trends - LG SalesIn 2011, LG’s sale of smartphones had already reached 20 million units, said Strategy Analytics data. By 2012, that had increased to 26.3 million units, which shows a rapid rise in the sale of these mobile devices. Within the first half of last year, LG had already released an announcement that said that it had broken its own records in selling smartphones, after having sold 14.5 million of those mobile devices in the first six months. The company, itself, was already crediting the success of the G3 in South Korea for that achievement.

In 2014, the G line smartphones from LG proved to be very popular, including the G3, but also the G3 Beat and the G3 Stylus. That said, another addition to the increase in sales from the mobile technology manufacturer was because of the LG Wine Smart, which was a flip phone that provided users with buttons that would offer a direct connection to KakoTalk, a popular messaging platform.

Still, despite the strong smartphone trends for LG in 2014, it still sits behind its Chinese rivals, Huawei Technologies, and Xiaomi. That said, its forecast for 2015 is looking quite strong and many industry experts are expecting that its shares and profitability will both continue to rise.