SEOUL KOREA - LG Electronics, which has performed relatively well in the smartphone market, appointed Cho Jun-Ho, president of LG Corp., as new president of its mobile communications business, replacing Park Jong-Seok who led the company’s smartphone business.

Given that LG has been doing quite well in the smartphone market, this appointment is unexpected, but some insiders said that the change had been expected.

In the third quarter of this year, LG Electronics lost its No. 3 position to Xiaomi in terms of smartphone sales volume, although it kept the No. 3 spot for four straight quarters in terms of market share.

Even on an annual basis, LG Electronics is expected to be able to maintain the No. 3 ranking in the global smartphone market.

LG’s revenue-based market share has been on an upward trend, rising to 5.4 percent in the third quarter of this year from 4.2 percent in the second quarter, 4.2 percent in the first quarter (2013), 4.1 percent in the fourth and third quarters of 2013, and 3.9 percent in the second quarter of 2013.

 

 

Article provided by The Korea Economic Daily