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LG Electronics aims for smartphone growth double the market rate

24
Feb
2014

LG Electronics Inc aims to broaden its range of smartphones so sales this year grow at double the rate of the market, as the South Korean company seeks to retake the position of worlds third-biggest maker. LG, who slipped behind Huawei Technologies Co last year with a market share of just under 5 percent, also plans to sell a smartwatch capable of connecting with rivals phones, mobile division president Park Jong-seok told reporters ahead of a Barcelona trade fair this week. LG shipped a record 47.7 million smartphones last year, 81 percent more than a year earlier. I expect competition among tier-2 manufacturers for more market share to become tougher this year, and price competition will also naturally intensify, Park said.

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