Technology

LG aims for 40% increase in handset sales

LG Electronics Inc plans to increase mobile handset sales this year by 40% to 62 million units as the consumer electronics giant poses a growing threat to the established handset producers.

CBR Staff Writer January 25, 2005

The Seoul, South Korea-based company said sales at its mobile communications company rose 56.6% in 2004 to KRW9.2 billion ($8.9 billion), led by strong sales in 3G markets in Europe and North America.

LG Electronics said it aims to maintain its position as the leading provider of CDMA handsets in North America by establishing additional businesses with operators. In 2005, the company plans to recruit about 3,000 people, up 15% from last year, and it said 90% of the new recruits will be committed into R&D for the display and mobile handset sectors.

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