LG Lags Behind in Smartphone Industry: Cuts 2011 Sales Projection by 20%

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Though, Smartphone industry is witnessing explosive growth worldwide, LG – the third largest mobile phone maker – has missed the bus with distance. On Thursday Park Jong Seok, Head of Mobile Business – LG, has announced that company has decided to cut short the sales forecast of the year 2011 by 20% due to significant decline in LG mobile handsets sales across the globe. With latest ‘chopped’ projection, company is expected to record the sale of 24 million handsets this year, 6 million lesser than earlier target of 30 million.

According to the latest report from Bloomberg, Park is expecting slow progress with the latest launch of LG Smartphone but he is still uncertain about the turnaround time.

“It’s hard to give an exact timing, because there are so many market variables, and the situation changes quickly,” Park said.

As per Park, the overall mobile phone sales, including other type of handsets, will also be hit and is expectation to reach 114 million compare to earlier projected figure of 150 million. Company is counting big on the “Optimus” range of mobile devices. Optimus One and Optimus 2X are already available in most of the countries and Optimus 3D is slowly reaching to market.

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In current situation company wants to take the advantage of 3D technology and therefore all their upcoming mobile devices are equipped with the 3G features which also have the capacity to record 3-D images.

“We want to differentiate ourselves with good hardware such as the 3-D model by taking advantage of what we are strong at, like displays,” Park continues.

Company is expecting to sell 1.7 million units of 3D handsets by end of this year. Reportedly, company is also working on the new model which will be having high-definition 4.5 inch screen.

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