LG aims to be top mobile phone brand by 2007

LG said it wants to be the leading mobile phone brand by 2007. The company plans to be among the top three handset makers in the world by 2006 and aims to sell 42 million handsets this year alone. In order to gain market share, LG will spend $1.95 billion on product R&D in 2005. One of the company's target growth markets is Russia and Eastern Europe. LG's new phones include a number of advanced features, including built-in MP3 players, 3G gaming, and fingerprint identification.

For more on LG's aggressive growth plans:
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