LG Electronics belongs to one of the world’s largest electronic multinational firm, LG Group. The Seoul based LG Electronics operates its electronic business through five divisions. They are mobile communications, entertainment, appliance, air-conditioning and business solutions. LG electronics takes 2nd place in the world in production and distribution of television sets. The company established in the year 1958, has spread over many countries with its subsidiaries present in more than 75 countries. LG Electronics has won many awards and achievements over the years and is one of the forerunners in technology front.
LG’s new Optimus mobile competes with Apple’s iPhone and Samsung’s Galaxy. The new phone sports sharper display than Apple and Samsung range of mobile phones. The Seoul based company is slow to take advantage of the booming smartphone market which is much dominated by Samusung, Apple and HTC. LG needs a push to start afresh from the loss making status to break even status. It needs to build its own identity in terms of appearance and features. Other big brands are able to march ahead by delivering attractive and timely features which lead to shape their own identity. LG launched their first smartphone in 2010 whereas Apple launched its first smartphone in the year 2008.
As per the latest reports of Q2 of 2011, Apple is leading the smartphone market capturing 18.5% of the global market. The next place goes to Samsung and Nokia was pushed to third position. Finland based Nokia has a great setback dropping to 15.2% from 38.1%. Nokia still leads the world market (in terms of all kinds of mobile phones including basic models) by capturing 24.5% of the global mobile handset market. Samsung takes second place with 20.5% and LG being consolidated at 3rd place with 6.9% share of the market. As per financial analysts, LG has to work hard to come out from the current ‘negative’ status to ‘stable’ status. The company needs fresh and regular stimulants by presenting innovative, user friendly and state of the art mobile phones.
LG has released more than 12 smartphone models under the brand, Optimus. Optimus LTE sports 329 pixel screen compared to 326 pixel by Apple’s iPhone 4S. Optimus LTE comes with 1.5 GHz processor which is similar to Samsung’s Galaxy model. LG claims that new model based on LTE technology is capable of working on high speed networks. LG is also eying on handsets based on 3D technology. LG had already launched a 3D phone this year which has an edge over Apple and Samsung. LG is trying its level best to come out with many number of models supposing that any one of them may become a super hit. While the strategy looks good, as per the financials analysts, the pace LG is diving in is too slow. Until LG will be able to convince the customers with a handset that performs and can be a best bet against Samsung or Apple, most of the customers may stay away from LG. The coming months are crucial for LG to come out from the debt trap and march ahead with flying colors.