The world's third largest handset maker LG Electronics Inc is expecting a sharp rise in its smartphone sales in the second half of the running fiscal year.
According to the company, the increase in its smartphone sales is likely to be around 40 per cent during this time, reaching the 14 million units mark.
However, the company lowered the target for overall handset sales during 2011 by almost 25 per cent to 114 million units as compared to 150 million units sold last year. LG says that the drop in the overall handset sales-target is due to the increasingly growing demand for smartphones, which has eventually narrowed the scope of feature phones to a great extent in the global cell phone market.
"Our overall performance is gradually improving...but it's difficult to give a precise prediction when our business will turn around due to a fast changing external market environment," Park Jong-seok, LG's chief of handset division, said to the media, Reuters reports.
Mr. Park also revealed that LG had the aim of selling a minimum of 24 million units of smartphones during 2011 after selling near about 10 million units during the first half alone.