Smartphone Sales Target cut by LG!

LG Smartplhone

By how much though? The answer is 20%. As you probably know, LG is the third largest mobile phone maker in the world. However, the fact that they are losing customers to Apple and Samsung is a truth. As a result, Jong Seok, who serves as chief of the Division of LG mobile phones, has recently said that they will reduce the sales target for this year from their previous forecast of 30 million units to 24 million units. It is a piece of news that’s anything but happy. The products that pushed the envelope which LG is hoping to propel their sales in 2011 are the Optimus 2X and Optimus 3D smartphones. They have put great hope in these terminals an LG Optimus 3D is expected to reach 1.7 million units sold in 2011. I do not want to be grumpy, but the Optimus 3D has a strong opponent in HTC’s Evo 3D.
As for the LG Optimus 2X, we can say that this terminal didn’t meet the set expectations. The Optimus 2X LG failed to impose itself on front of the Samsung Galaxy S II and HTC Sensation. It will be interesting to see and I wonder what will become of their plans for the regarding a new phone or MeeGo tablet. In terms of LG’s market share, things aren’t looking any brighter here as they dropped from 7.6 to 5.6%. Given that Apple has increased to 18.7% and Samsung has reached 10.8%, now you can see why LG chose to cut the smartphone sales target by 20%. The data refers to the first quarter of 2011. For comparison, LG sold 10 million phones in 2011 while Samsung only in the second quarter reached 19 million sold units.
LG had an operating loss of $94 million in this year’s first three months and although the business is improving slowly but surely; it is yet unclear when things will really turn around.