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| LG G Pro 2 / Source from LG Electronics |
AsiaToday reporter Hong Sung-yool = LG Electronics looks quite confident it will improve profitability of its mobile phone business with the launch of its next strategic smartphone model "LG G Pro 2". LG Electronics believes its smartphone brand 'G Series' will successfully penetrate the market through strengthening product competiveness and large-scale marketing investment.
According to industry insider on the 18th, LG Electronics plans to raise its global smartphone market share as well as its profitability. The original strategy of LG Electronics was to raise brand image by investing large-scale marketing expense considering growth rather than profitability.
However, it seems like they changed their mind as G Series has improved its brand awareness in the smartphone market and marketing expense has dragged their business results down, leading to poor performance. So, the company is expecting to get results from its large-scale marketing investment by the latter half of the year.
'G Series' has already penetrated in the market. Three models of G Series, which are 'Optimus G', 'Optimus G Pro', and 'LG G2' have all become million sellers in the domestic market. 'G2' has achieved its sales goal, selling 3,000,000 units in the global market and raised brand image.
The smartphone industry is also putting a high value on LG Electronics's growth potential. According to the U.S. market researcher Strategy Analytics (SA), LG Electronics is expected to sell 69.1 million smartphones this year with 6 percent of market share. This is 45 percent higher than the smartphone sales volume of the previous year.
