LG Rakes in 3rd Highest Revenues in Phone Market

      May 27, 2014 12:54

      LG ranked third in terms of revenues in the global mobile phone market in the first quarter of this year, behind Samsung and Apple, market researcher Strategy Analytics said Monday.

      LG raked in US$3.184 billion, putting it in third place for the first time since the release of Apple's iPhone in 2007 revolutionized the market.

      LG launched the Nexus 5 and the G Pro 2, an upgraded version of its flagship G Pro, in February to establish itself in the premium smartphone market. Also, the LG G2 that hit the market last year continued to sell well in the quarter.

      Nokia, which had been in third place, was overtaken by LG and Sony, slipping to fifth place. Sony took the No. 4 spot due to the performance of the Xperia Z2.

      But in terms of sales volume Samsung ranked top, followed by Nokia, Apple and LG. Sony came a distant 11th.

      China's Huawei and Lenovo ranked fifth and sixth, but in terms of revenues they ranked seventh and 10th.

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