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LGE shows 25% growth in 2005

LG Electronics, one of Korea’s biggest mobile phone makers, demonstrated significant growth last year, selling 55 million handsets worldwide. This is a full 25% more than the 44 million unit figure recorded for 2004. The rise in cell phone sales was particularly pronounced in the Q4 2005 where the company sold 16.2 million units worldwide.

A large part of this success can be attributed to LG’s attention to a number of facets of the mobile phone market, addressing the needs of both GSM and CDMA users, as well as approaching the emerging demands for WCDMA technology. As such, according to Telecoms Korea, LG’s operating income “surged 60.7%”, quite an impressive figure.

Look out Samsung, because little brother LG looks to be eyeing that number one spot in Korea as well as making huge strides in North America, Europe and Japan. Aiming to raise brand recognition and bombarding the market with innovative products, LG is setting a goal to top 70 million units sold for 2006.

About Michael Kwan

A freelance writer and tech geek from Vancouver. Find me at michaelkwan.com and follow me on Twitter @michaelkwan.

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