Strategy Analytics: LG has record market share in North America

According to the latest report from Strategy Analytics, LG reached a record market share in North America - for Q3 2014, the company had 16.3%. For the same period last year the company had just 7.4%, making its achievement particularly significant.

LG also managed to score another quarterly record in terms of sales. For Q3 2014, the company sold 16.8 million smartphones, 2.3 million more than it did last quarter. Operating profit is $420 million (KRW 461.3 billion), a 111.8% increase on a year-over-year basis.

The boost in market presence, according to the report, is thanks to the LG G3. LG's success brings the company closer to the leader in North America market share - Apple. The Cupertino-based company has 33.9% market share. Samsung is second at 24.8%.

Analysts expect LG to slow its stride for the upcoming quarter as competition in the face of the iPhone 6 and iPhone 6 Plus will hit the brakes on the Korean sales. We'll see if these predictions will come true in a couple of months.

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