Sales of mobile phones from Samsung Electronics and LG Electronics in the third and fourth quarters of the year will likely exceed 40 million and 20 million units, respectively, for the first time.
Samsung Electronics, which currently ranks second worldwide in mobile phone sales, has further widened the gap over Motorola, which ranks third, while LG Electronics is a step from catching up with Sony Ericsson, the world's fourth leading mobile phone maker.
With Samsung Electronics' low-price mobile phones spearheading its product line, the company is expected to easily achieve its annual sales target of 140 million units.
Samsung Electronics CEO Choi Ji-seung said the company will expand its production to 200 million units next year to catch up with market leader Nokia and increase its lead over Motorola. He added that the company will also seek to improve its cost structure and boost revenues.
LG Electronics Vice Chairman Nam-yong said the company's low-price mobile phones targeting developing countries have reaped better than expected results at the ongoing 2007 Korea Electronics Show. (Source