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LG slashes sales targets, struggling in the smartphone market

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LG has had a rough go of it recently. Its phones haven't exactly wowed reviewers, and even the ones that do impress turn out to have major bugs that send customers running to other manufacturers. In the face of its struggles to keep up with the Joneses, the company has slashed its sales targets for 2011 from 30 million smartphones to 24 million, and overall handset shipments from 150 million to 114. In the first half of the year LG sold just over 10 million smartphones -- by comparison, Samsung put an estimated 19 million such devices in the hands of consumers in Q2 alone. Despite posting its fifth straight quarterly loss there is some cause for optimism -- the loses are getting smaller and, if it ever gets the kinks worked out with the G2x, it'll have a serious competitor for your high-end Android dollar.

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