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Industry takes wraps off VoLGA Forum

The VoLGA (Voice over LTE via Generic Access) Forum officially launched today, a joint effort dedicated to bringing voice and SMS services to future LTE networks.

LG to expand 3G business in China

China Newswires, citing a Shanghai Daily report, notes that South Korea’s LG Electronics plans to introduce 25 new 3G mobile phones to China in 2009, including touch screen models and phones with high-speed Internet access and high-quality 5-megapixel or 8-megapixel cameras.

LG bullish on growth after resilient Q1

South Korea’s LG Electronics posted a resilient set of first-quarter results today for its mobile communications division, increasing its Q1 sales and targeting double-digit handset growth next quarter despite its own projections of the global device market declining over 10 percent year-on-year in the same timeframe.

Report: Nortel looks to sell-off stake in LG venture

Nortel is keen to sell off its 50 percent stake in its South Korean joint venture with LG Electronics, reports the Financial Times.

Reports: Mobile sales in record decline

The global financial crisis sapped demand in the handset market during the first-quarter of this year, with shipments estimated to have fallen by up to almost 16 percent from the year earlier period.

LG to close Mexican plant

LG Electronics, the world’s third-largest mobile phone maker, will shut down its handset manufacturing plant in Mexico next month after the country removed tariffs on imported handsets, reports the Financial Times.

Nortel hunts for buyer of stake in LG joint venture

Nortel Networks, the Canadian equipment maker that filed for bankruptcy protection in January, has confirmed speculation it is aiming to sell off its majority stake (50 percent + 1 share) in its South Korean joint venture with LG Electronics.

Huawei linked to Nortel’s stake in LG-Nortel

Chinese equipment vendor Huawei is understood to be interested in acquiring Nortel’s stake in LG-Nortel, the Canadian vendor’s South Korean joint-venture with LG Electronics.

LG eyes long-term growth

Reuters notes that LG Electronics, the world’s third-largest mobile phone maker, will maintain its global market share target at 10 percent for this year and aims to become No.2 by 2012.