Sales for LG’s mobile phones division slid during the first quarter, as the economic downturn continued to hit demand for new handsets.
According to official figures, LG sold 22.6 million mobile phones during the three-month period to March 31st.
This represents a decline of seven per cent from the same period last year, when the credit crunch was in its nascent stages.
However, LG’s results were significantly better than those of rival handset manufacturers Nokia and Sony Ericsson, which suffered first quarter falls of 19 per cent and 35 per cent respectively.
Seoul-based LG, which is currently the third-largest mobile phone company in the world, is this year aiming to grow its market share from 8.5 per cent to ten per cent.
Forthcoming handset launches from LG will include the successor to the LG Viewty KU990 ,the LG Viewty Smart, which will land in the UK on Orange during May, and a mooted 12 megapixel cameraphone.