December 21, 2024

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[THE INVESTOR] LG Electronics saw its shipment of smartphones around the globe hit a five-year low in the second quarter, data showed on Aug. 2, continuing to lose its presence on the world stage.

The Korean tech giant shipped 9.5 million units around the globe to make up just 3 percent of the market in the April through June period, the data compiled by industry tracker Strategy Analytics said.

LG’s shipment of smartphones in the April-June period was the lowest among the previous 20 quarters.

Including feature phones, LG’s combined market share came to 2 percent, placing it in the 11th spot, the industry tracker said.

LG’s weak performance apparently came as the flagship G7 ThinQ failed to gain popularity around the globe, with Chinese rivals also actively rolling out price-competitive models.

The firm’s mobile communications business posted yet another quarterly loss in the April-June period at 185.4 billion won.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)