LG Eager to Sell Pricey Phones in Emerging Markets

Models show “Touch Navigation” phones Tuesday that LG Electronics has introduced to China and Brazil. The LG-KF600 camera phones, equipped with dual LCD monitors, sell for about $350. / Courtesy of LG Electronics


LG Electronics said Tuesday that it will increase the portion of high-end phones in emerging markets by 50 percent this year.

``We cannot compete with such industry leaders as Nokia and Samsung Electronics with low-priced phones. We have to set our sights on the market with phones worth $300,'' an LG spokesperson said.

The plan comes as the world's fifth largest handset maker has launched ``Touch Navigation'' phones in Brazil and China Jan. 15.

LG accounts for only 13 percent of the CDMA phone market in China, while Latin America is the company's fourth largest market taking up 11 percent of its sales in the third quarter of last year.

The LG-KF600 camera phone is armed with two LCD monitors ― by applying ``InteractPad'' technology ― and a user-friendly interface system.

``What we want now is to reap stable and strong profits by aggressively promoting premium phones in emerging markets where `price' is the sole strategy for a bigger presence,'' said Skott Ahn, CEO of LG's mobile communications unit.

``We will sell the phones in Mexico, Turkey, the Middle East and Southeast Asia,'' he added.

LG, which expects to sell more than 100 million handsets in 2008, up 25 percent from 2007, intends to bolster its strengths in design and function.

LG's Chocolate handsets have sold over 15 million globally with the sales of more than 5 million Shine handsets.