LG targets Russia as it looks to boost global handset sales 50%

26 May 2005

Korean-based equipment manufacturer LG Electronics has announced aggressive plans to expand its presence in Russia with a view to grabbing 10% of the country’s mobile handset market by the end of the year. LG has been hawking its wares at the Expo Comm Moscow 2005 trade fair, where it unveiled a number of advanced mp3, camera and 3D gaming phones, as well as handsets featuring innovations such as finger print identification. The Russian mobile market is booming, with handset sales expected to increase from 28 million in 2004 to 33 million this year. LG says it expects to sell more than three million phones in the country in 2005, whilst increasing its global handset sales by more than 50% to over 60 million.