LG sales hit the wall

LG’s mobile phones sales ran out of steam in Q4 2006, causing operating profits to drop by 70% on the year before. LG sold 17m handsets in Q4 2006, sales that were only 5% up; the obvious beneficiary was Sony Ericsson, which grew sales 61% in the same period. LG now estimates its handset sales will grow 11% in 2007.