April 24, 2024

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[THE INVESTOR] LG Electronics' share in the US smartphone market hit a record high of 20 percent in the first quarter this year, data by market consulting firm Strategy Analytics showed on May 7.

LG shipped 7.3 million smartphones in the all-important US in the January-March period, with its market share rising about 3 percent from 17.1 percent a year ago.

 

LG G6

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The strong numbers are noteworthy considering sales of the company’s latest flagship G6 were not counted in the three-month period. The phone hit the market on April 7.

Despite its sluggish smartphone sales globally, LG has maintained its sizeable stake in the US where it is the third-largest smartphone maker in terms of sales after Apple and Samsung Electronics.

In order to restore profits overall, LG should elevate its more lucrative premium phone sales in the US that makes almost half of its total phone sales.

The first quarter figures allowed LG to broaden its lead over China’s ZTE that had a 6.7 percent market share, while reducing the gap with No. 2 Samsung that controlled 24.6 percent by shipping out some 9 million handsets.

By Lee Ji-yoon and newswires (jylee@heraldcorp.com)