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LG Electronics, who are starting to gain ground in the fast moving flat panel TV market, also believes that they can take share away from Samsung in the mobile phone market. They believe that by 2012 they will have overtaken their Korean competitor with a Smartphone as good as the Apple iPhone.

LG mobile president Seung-kwon Ahn, in an interview yesterday ,said that LG is now placing a stronger emphasis on smartphones. He said that the company will be coming out with a high-end smartphone in the fourth quarter that will be a serious competitor to Apple’s iPhone.

Ahn has also said that LG will be bringing out their own range of luxury phones as well as new Prada models.

He said it doesn’t necessarily need to have the most advanced handsets to increase market share.

“I emphasize to my employees that LG does not pursue technology for its own sake,” Ahn said. “That would simply be dragging customers to what we want, not to want they want.”

LG has made strong strides in the mobile industry over the last few years, as it surpassed Motorola and Sony Ericsson to become the third-largest cell phone maker in the world.

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