Firm says LG world’s No. 3 in revenues

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Firm says LG world’s No. 3 in revenues

LG Electronics was the No. 3 player in the global smartphone market last year, not No. 5, when the market was measured by revenue, according to market research firm Strategy Analytics yesterday.

LG sold $11.7 billion worth of smartphones last year, carving out a 4.1 percent market share, which puts it behind Apple and Samsung Electronics. It was up from No. 6 in 2012, when it trailed HTC, Sony and BlackBerry.

It was the first time LG logged more than $10 billion in smartphone sales. Its revenue has increased sharply, jumping from $1.9 billion in 2010 to $7.3 billion in 2012.

A previous survey by SA put LG behind Huawei and Lenovo in the number of smartphones sold. By revenue, Huawei sold only $3.97 billion and Lenovo $2.35 billion last year, trailing even Sony and HTC of Taiwan. LG’s solid revenue stems from its focus on premium phones, such as the G2 and G Pro, as opposed to low-end products.

Apple edged out Samsung by 0.1 percent for the No. 1 position, with Apple recording $92.8 billion in revenue for a 34.2 percent market share, as opposed to Samsung’s $92.3 billion, or 34.1 percent.


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