Samsung Seizes Majority Share of Cell Phone Market
Buoyed by sales of its new Galaxy S2, Samsung Electronics sold 6.55 million cell phones in Korea in the first half of the year to grab a 51.5 percent of the market, the firm announced on Friday. LG Electronics' market share stood at 17.55 percent over the same period after it shifted 2.2 million units.
Samsung's sales heated up as the year progressed, with the company moving 3.63 million handsets in the second quarter to grab a 54.4 percent share, compared to LG's 17.1 percent share based on sales of 1.09 million units.
June was a key month for Korea's electronics giant as consumers snapped up 1.44 million of its phones to earn it 56 percent of the market, more than three times the portion picked up by rival LG, which clinched 17.4 percent based on sales of 400,000.
The Galaxy S2 has helped inflate Samsung's share by emerging as the nation's fastest-selling model, with 1.5 million handsets sold the first 52 days after it was released. The new device featuring a 4.3-inch Super AMOLED Plus display has been popular among buyers in their 20s or 30s thanks to its speed (HSPA+ 21 Mbps) and ultra-thin body (8.9 mm), said a company spokesperson.
LG Electronics' smartphones only saw a fraction of this success in the same month, when the company sold 60,000 units of its Optimus Black and 100,000 of its Optimus Big. It has been receiving average daily subscriptions of 2,000 to 3,000 since the release of the Optimus series last month, the firm said.
Meanwhile, the domestic cell phone market grew 10 percent on-month to 2.57 million units in June, with demand for smartphones accounting for 83 percent of the total, or 2.14 million units, according to Samsung Electronics. In contrast, LG's analysts reported lower sales of 2.3 million units for the month, showing little movement from May.