22 November 2003
LG Electronics’ rapid market share growth of the global mobile phone market has become the toast of influential international media, including the prestigious Wall Street Journal, Fortune, Time and New York Times.
Evaluating the company’s growth potential, the Wall Street Journal in the top story in its networking section, recently looked at the background behind LGE’s success and the strategies that led to the Korean giant challenging the status quo.
The Wall Street Journal disclosed that LGE jumped from the 10th to the fifth spot in sales volume in only two years. The financial newspaper added that LGE’s rapid growth is a clear case of how the ranking among global phone makers can easily change. LGE’s rapid growth was attributed to its successful partnerships with mobile carriers in the US and Europe.
Unveiled last summer in the United States, the world’s largest CDMA mobile phone market, LGE’s LG-VX6000 camera phone was selected as one of the most popular products for 2003 by US economic magazine Fortune.
The LG-VX6000 was also introduced as ‘Gadget Of The Week’ in a recent Times’ Internet edition.
Specially designed for Middle East customers, the company’s Mecca-pointing LG-G5300 mobile phone, equipped with compass and direction-pointer programme, has also been featured in the New York Times reinforcing the company’s position in not only CDMA markets but also in the GSM mobile phone market.
“The recent international media acclaim is attributed to the successful implementation of LG’s strategies of unveiling its products ahead of the competition in booming high-performance mobile markets and penetrating niche markets,” said Mr. M. B. Shin, President, LG Electronics Middle East and Africa.
“LGE will continue to increase the launch of various marketing and promotional events to enhance LG’s mobile brand image.”
For the third quarter 2003, LGE posted a 43% growth in its global mobile phone sales, more than twice the average market growth rate, to rank among the world’s top five companies.
LGE expects fourth quarter sales to see the same strong supply of mobile phones and said this will boost the company’s chances to climb to the global fourth spot in 2004, having already secured fifth place earlier in 2003.
-Ends-
About LG Electronics
Established in 1958 as Korea's pioneer consumer electronics company, LG Electronics is a major global force in Electronics and Information & Communications products. More than 55,000 employees working in 73 overseas subsidiaries and marketing units around the world, strengthen LG Electronics’ core competencies in three main business companies: Digital Appliance, Digital Display and Media, Telecommunication Equipment and Handset.
The Telecommunication Equipment and Handset Company provides total solutions ranging from wired and wireless handset to telecommunication equipment. LG Electronics is steadily expanding its world market share in CDMA, GSM and WCDMA (UMTS) through innovation and the development of leading-edge technologies in next-generation wireless telecommunications. For more information, please visit www.lge.com
Jonathan MacPherson
MCS/Action FZ LLC,
P.O. Box 20970,
410 Building 8,
Dubai Media City,
Sheikh Zayed Road,
Dubai,
United Arab Emirates.
Telephone: (+971) 04 3902960
Facsimile: (+971) 04 3908161
Email: jonathan@mcsaction.com
LG Electronics’ rapid market share growth of the global mobile phone market has become the toast of influential international media, including the prestigious Wall Street Journal, Fortune, Time and New York Times.
Evaluating the company’s growth potential, the Wall Street Journal in the top story in its networking section, recently looked at the background behind LGE’s success and the strategies that led to the Korean giant challenging the status quo.
The Wall Street Journal disclosed that LGE jumped from the 10th to the fifth spot in sales volume in only two years. The financial newspaper added that LGE’s rapid growth is a clear case of how the ranking among global phone makers can easily change. LGE’s rapid growth was attributed to its successful partnerships with mobile carriers in the US and Europe.
Unveiled last summer in the United States, the world’s largest CDMA mobile phone market, LGE’s LG-VX6000 camera phone was selected as one of the most popular products for 2003 by US economic magazine Fortune.
The LG-VX6000 was also introduced as ‘Gadget Of The Week’ in a recent Times’ Internet edition.
Specially designed for Middle East customers, the company’s Mecca-pointing LG-G5300 mobile phone, equipped with compass and direction-pointer programme, has also been featured in the New York Times reinforcing the company’s position in not only CDMA markets but also in the GSM mobile phone market.
“The recent international media acclaim is attributed to the successful implementation of LG’s strategies of unveiling its products ahead of the competition in booming high-performance mobile markets and penetrating niche markets,” said Mr. M. B. Shin, President, LG Electronics Middle East and Africa.
“LGE will continue to increase the launch of various marketing and promotional events to enhance LG’s mobile brand image.”
For the third quarter 2003, LGE posted a 43% growth in its global mobile phone sales, more than twice the average market growth rate, to rank among the world’s top five companies.
LGE expects fourth quarter sales to see the same strong supply of mobile phones and said this will boost the company’s chances to climb to the global fourth spot in 2004, having already secured fifth place earlier in 2003.
-Ends-
About LG Electronics
Established in 1958 as Korea's pioneer consumer electronics company, LG Electronics is a major global force in Electronics and Information & Communications products. More than 55,000 employees working in 73 overseas subsidiaries and marketing units around the world, strengthen LG Electronics’ core competencies in three main business companies: Digital Appliance, Digital Display and Media, Telecommunication Equipment and Handset.
The Telecommunication Equipment and Handset Company provides total solutions ranging from wired and wireless handset to telecommunication equipment. LG Electronics is steadily expanding its world market share in CDMA, GSM and WCDMA (UMTS) through innovation and the development of leading-edge technologies in next-generation wireless telecommunications. For more information, please visit www.lge.com
Jonathan MacPherson
MCS/Action FZ LLC,
P.O. Box 20970,
410 Building 8,
Dubai Media City,
Sheikh Zayed Road,
Dubai,
United Arab Emirates.
Telephone: (+971) 04 3902960
Facsimile: (+971) 04 3908161
Email: jonathan@mcsaction.com
© Press Release 2003
