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LG Electronics Keeps Third Spot In North American Smartphone Market

By February 13, 2017 at 7:14 am
In North America, LG Electronics only trails Apple Inc. and South Korean rival Samsung Electronics in terms of share of the smartphone market. (Photo : Getty Images)

Solid sales of LG Electronics Inc.'s flagship model V20 kept the company's firm hold of third spot in the North American smartphone market in the final quarter of 2016, according to data released Monday.

LG released the V20 model in the North American market last September in the hopes that the high-end phone will help add to its sales momentum.

The company aims to tap deeper into the premium market in its bid to surpass the sales of the V10, which sold 450,000 units in the month after its October 2015 release in the US market. 

In the October to December quarter, the South Korean tech giant sold around 74 million smartphones, an increase from the 66 million units sold in the year-earlier period, data from industry tracker Strategy Analytics showed. The company's market share came at 14.2 percent.

Despite reporting an operating loss of US389.4 million in the third quarter last year, LG's Mobile Communications saw its North American operations post a 14 percent increase in sales from the second quarter. LG shipped a total of 13.5 million smartphones worldwide in the July to September period.

Industry experts forecast that almost 60 million units of the V20 were shipped in North America during the October to December quarter. 

Apple Inc. maintained its dominance in the North American smartphone market during the same period with a market share of 38.7 percent, followed by Samsung Electronics Co. with a market share of 20.9 percent, according to data.

LG launched the high-end Android smartphone V20 on Sept. 7, boasting its improved camera and audio features. It was also the first smartphone installed with the Android 7.0 Nougat OS.

LG has announced its plans to launch the G6 smartphone this month at an annual technology fair in Spain. No specifics about the G6 were released yet, but LG has said that it will come with a wide-angle camera lens and a 5.7-inch display.

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