LG records its highest-ever market share in North America
LG Electronics posted its highest market share ever in North America in Q3, thanks to the performance of its newest flagship phone, the G3.
LG reported a 16.3 percent smartphone market share in North America for the third quarter of 2014, more than twice the 7.4 percent it had a year ago, according to the latest analysis from the US-based Strategy Analytics. The boost was largely thanks to the company's latest flagship, the LG G3 .
Apple was still top dog with 33.9 percent, holding firm thanks to the launch of iPhone 6 and 6 Plus , while Samsung was runner-up with a 24.8 percent market share.
LG sold 16.8 million smartphones in the third quarter, breaking the previous quarter's record of 14.5 million. It posted 461.3 billion won ($420 million) for in operating profit in the third-quarter, a 111.8 percent increase from 2013.
However, the South Korean electronics giant's fourth quarter results are to be likely lower. Lee Seung-woo, an analyst at IBK Securities, expects LG's profits for the end of 2014 to halve due to competition from Apple's iPhone 6 abroad and slowdown of sales in the local market.
LG shows no signs of slowing down, though. The company trademarked the names G4 to G9 in August, which indicates that it is likely to continue with its flagship series.