LG focuses on 4G phones for growth

LG Electronics is showing signs that it is ready to shift its business model by focusing on the development of (Long term evolution) LTE smart phones.

Last year, the smart phone maker from South Korea sold 10 million units of their LTE phones. This is the company's biggest accomplishment to date after entering the 4G smart phones market.

In 2012, they launched several LTE phones for the United States, Japan, Germany and South Korea market. Earlier this year, they launched the LG Optimus G in 50 countries.

LTE is considered by many to be the obvious successor to the current 3G technology. It is believed that the LTE technology is able to achieve download speed of up to 300 megabit per second, more than 10 times faster than the average speed of 3G.

According to Analytics, a strategic firm, the production of LTE smart phones will increase drastically up to 275 million units this year.

LG will launch several new models and is expected a double-digit growth in the LTE market.

This year, they’ve launched the LG Optimus F phone for countries in transition from 3G technologies to LTE or 4G.