LG Launching App Store In South Korea; Releasing Android Phone Later This Year
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LG Electronics (SEO: 066570) is planning to launch an app store in its home market of South Korea in July, reports Reuters. It’s unclear at this point whether the store will be available to LG phone owners around the world.
SEE ALSO: @ MWC: Microsoft Unveils Windows Mobile 6.5; App Marketplace; Back-Up Services And More
According to an LG spokesperson, the mobile phone maker launched a software developer site last year where it provided access to some of its SDK’s for developers. But it has yet to launch an app store outside of Korea, and is “currently investigating” its options. Reportedly, both LG and its South Korean compatriot Samsung have been reluctant to open their own app stores for fear of ticking off carrier partners. In the US, both mobile phone makers made quick inroads into the market by bending over backward to work with carriers. Samsung has an app store in beta, available only in the UK. Still, its obvious LG knows the importance of an app store. LG’s president and CEO of Mobile Communications Ahn Seung-kwon, speaking at a press conference in Seoul to introduce its Arena smartphone said, “The key thing to success for smart-phones depends on content.”
LG plans to release 80 mobile phone models around the world this year, of which 12 will be smartphones. The company said it was hoping to sell at least 5 million Arena units during its lifecycle. It also plans to release an Android phone later this year, though did not give specific timing.
LG is currently the third largest mobile phone maker in the world. It expects to maintain its global market share at 10 percent this year, while aiming to become the second largest cellphone maker by 2012. Ahn said, “We will become the global No. 2 in 2012, and that goal applies to smart phones as well.” LG has committed to developing 50 new Windows Mobile phones by the end of 2012 and both companies — Microsoft (NSDQ: MSFT) and LG — are committing to increasing their investment in Windows Mobile by five-fold.
Currently, Nokia (NYSE: NOK) leads with a 36 percent share, followed by Samsung with a 19 percent share. Last year, LG sold 100.7 million phones for 9 percent of the market. One of the handset maker’s key regions is China, where it hopes to triple its current 2 percent market share.
Posted In: Companies, Google, Samsung, Countries, Asia, Korea
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