LG to Target Emerging Markets
Oct 29, 2008, 8:33 AM by Eric M. Zeman
LG has decided to increase its efforts in emerging markets. LG's CFO said that the company hopes to sell half of the phones it produces in certain Asian, Africa and Latin American markets through an "aggressive introduction of phones priced at $100-$150." LG has focused most of its efforts, especially in the U.S., on mid-range devices. The North American market makes up for about 45% of LG's current sales, and the company sold 23 million handsets worldwide in the third quarter, compared with 27.7 million in the second quarter. LG wants to be the world's third-largest supplier of mobile phones.
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