LG smartphone market share in Korea reaches 30%

LG Electronics' smartphone market share in its home country has reached near 30 percent, thanks to the success of the G3.

According to Counterpoint, a Hong Kong-based technology market research firm, LG had 29 percent of market share in July, the highest ever since it started its smartphone business back in 2010.

LG's domestic market share remained consistently in the 10 percent range from January to April. But in May, when it launched its flagship G3 smartphone, the company's share rose to 22 percent, and has been rising since.

Samsung, LG's big rival in the local smartphone market, fell below 60 percent in July. Samsung's market share topped in April to 68 percent when it launched the Galaxy S5, but it has been falling since.

Kwon Sung-ryul, an analyst at Dongbu Securities, told ZDNet Korea that "South Korean customers' positive reaction of G3 contributed to boost LG's market share".

"Samsung's new Galaxy Note and Apple's new iPhone will be the barrier for LG in the future, but we expect LG to maintain around 30 percent of the market share [in Korea]," Kwon added.

According to the Korean Intellectual Property Office, the country's second-largest smartphone maker trademarked G4 to G9 this month. The company has not announced the launch date of the G3 successor model yet.

Source: ZDNet Korea (zdnet.co.kr)