LG Smartphone sales boom

A recent Reuters report said that LG Electronics Inc of Korea has emerged as the world's number three Smartphone maker in the $ 223 billion market, spurred on by record sales of high-end models of the LG Optimus series.

LG's Smartphone market share rose to 3.2% in the fourth quarter with sales soaring to unprecedented heights to become number three in the Smartphone market.

"LG's high-end models of the Optimus series have made inroads to capture world markets because of their powerful and innovative hardware and software features and an exceptionally fast 4G connection. LG is optimistic that the trend in booming sales will also help increase sales of their lower-end segment as well," a spokesman for the company said.

LG has already recorded software upgrades for its flagship Optimus G Pro model. This will boost appeal to upmarket consumers before rival products hit the market.

The features that LG will be introducing include Motion Detecting Technology that stops and starts videos depending on whether someone is looking at the screen and taking pictures.

The five-inch Optimus Pro was launched in South Korea in late February and in Japan earlier this month. It is LG's fastest selling smartphone with sales hitting 500,000 units in the first 40 days of the launch. Analysts predict that LG's smartphone shipments will rise by 16% to a record 10 million units as 8.6 million phones were sold in the fourth quarter.