LG ranks fifth on global mobile phone market

Two years ago, the Korean giant ranked tenth for global sales of its CDMA and GSM handsets.

According to market data released by market survey agency Strategy Analytics, LGE supplied 5.6 million CDMA and GSM mobile phones worldwide and captured 5.2% market share for the first quarter of 2003. LGE now formally ranks as one of the top global players, according to the agency.

'Due to global strategies in the CDMA handset market, LGE supplied 4.5 million units and grabbed second spot in this sector,' said Mr. M. B. Shin, President, LG Electronics Middle East and Africa.

'Two years after penetrating the global GSM market, LGE captured 7th spot in market share after it supplied 1.1 million units in the first quarter of 2003.

'LGE has continued to boost its high-tech GSM mobile phone business in the European and China markets posting remarkable growth. This year, LGE plans to export 6.4 million GSM mobile handsets, a large proportion of which will supply the booming Middle East and Africa market.'

Strategy Analytics assessed LGE's sales grew by over 81% in Q1 2003 compared to the same period last year, when it supplied 3.1 million units. Year-on-year, LGE has increased its CDMA mobile handset sales worldwide by an average of over 50% and consequently achieves a relatively high growth rate compared to its peers.

'On the global mobile phone market, LG Electronics has been climbing four notches every year,' said Shin. 'We ranked 14th in 2000, 10th in 2001, and sixth in 2002 after posting consistently high growth rates.'

Early this year, LGE planned to develop third-generation mobile phones and other innovative products aside from CDMA and GSM mobile phones.

'LGE plans to continue to aggressively penetrate overseas markets and supply a total of 45 million mobile phones worldwide by 2005,' said Shin.

'Consequently, LG Electronics is about to take a giant leap forward as a true top-tier mobile handset player.'