Amidst sluggish sales, LG has been forced to slash its overall estimates for smartphone sales for 2011.
According to Reuters, LG has sold nearly 50 million mobile phones this year, more than 10 million of which were smartphones. However, that was for the first six months. LG had originally planned on selling over 30 million smartphones. Thus, LG has realigned its forecast to selling over 24 million smartphones for 2011 in its entirety.
LG is expected to report a fifth consecutive quarterly loss from handset sales in the April-June period because it has failed to introduce products to challenge Apple and Samsung and due to weakening demand growth for its simpler handsets.
LG has had a number of big 4G smartphone releases this year, including the Verizon's Revolution , T-Mobile's G2X, and the 3D-enabled Thrill. However, the Revolution and G2X cost $249.99 on contract - more than the average $199.99 price tag for smartphones these days, which might sway consumers away for the time being. Additionally, given that 3D gadgets aren't exactly the norm yet, it might to be difficult for the Thrill to provide a significant boost once that one launches this summer with AT&T.
To put it into perspective, LG isn't the only mobile phone maker suffering this year. As of May, iSuppli numbers found that Motorola, Nokia and RIM have all seen a significant decline in smartphone sales from Q4 2010 to Q1 2011.
- LG Thrill 4G (aka Optimus 3D): Shoots and plays 3D content without special goggles
- LG Revolution arrives at Verizon Wireless on May 26
- LG Thrill 4G, Wikitude pair up for 3D augmented reality
- LG intros ultra-slim, lightweight P430 and P530 Blade laptops
- T-Mobile G-Slate Honeycomb tablet reviews go live, coming 20 April