SEOUL, KOREA - Korea’s major smartphone makers—LG Electronics and Pantech—saw their global market share fall due to challenges from Chinese rivals.According to market research firm Strategy Analytics, LG Electronics sold 12 million smartphones in the third quarter of this year, ranking No. 5 among major smartphone makers worldwide.
LG Electronics, which ranked No. 3 in the second quarter behind Samsung Electronics and Apple Inc., saw its smartphone sales decline by about 100,000 units in the third quarter, with its market share falling to 4.7 percent.
The Korean company was overtaken by two Chinese rivals—Huawei and Lenovo, which moved up to No. 3 and No. 4, respectively. Huawei, in particular, sold 12.7 million smartphones in the third quarter, a 67.1-percent increase compared to a year ago. Its market share also rose to 5.1 percent.
In addition to Huawei and Lenovo, Coolpad and ZTE also ranked No. 7 and No. 9,respectively. The number of Chinese smartphone makers included in the global top-ten list, accordingly, became four.