LG Slashes Handset Sales Targets

LG Electronics cut its 2011 smartphone sales forecast to 24 million handsets from a previous target of more than 30 million, while reducing its overall handset sales target by a quarter to 114 million units from 150 million, according to Reuters. In the first half, LG of South Korea sold almost 50 million mobile phones, including slightly more than 10 million smartphones, compared with almost 58 million in the first half of 2010. source: Reuters article