19 August 2019

Lenovo overtakes LG as No. 3 smartphone brand, report says

Lenovo Group Ltd. (00992.HK) sold 12.88 million smartphones in the third quarter, representing a 5.1 percent share of the global market and leapfrogging LG Corp. as the world’s third best-selling smartphone brand, the official Xinhua news agency reported on Sunday, citing data from information technology research firm Gartner. Of the 250 million smartphone units sold worldwide in July to September, Samsung Group grabbed 32.1 percent, followed by Apple Inc. at 12.1 percent and Lenovo at 5.1 percent. LG came in fourth at 4.8 percent and Huawei Technologies Co. Ltd. was fifth at 4.7 percent, the report said. An unnamed Gartner analyst was quoted as saying that Lenovo’s improved performance resulted from the strong domestic demand, with 95 percent of its smartphones sold in China during the quarter. Lenovo’s smartphone sales during the quarter grew 84.5 percent from a year earlier. However, the analyst said China’s smartphone market may reach its peak in 2014.

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