Korea's mobile handset exports post record high in October

Korea's mobile handset exports have hit a record high in October, buoyed by strong sales in North America and Europe. According to digital electronics imports and exports results for October compiled by the Ministry of Commerce, Industry and Energy, mobile phone exports jumped from the same period a year ago by 50.0% to 2.28 billion dollars, renewing its monthly record both in growth rate and unit volume.

The largest exports on a monthly basis were 1.62 billion dollars in July, up 35.1% a year earlier. For the third quarter, Samsung Electronics gained its penetration rate to 14.8%, up from 14.4% I the previous quarter, while LG Electronics also saw an increase from 6.3% to 6.6%. Notably, sales have continued to move up in Europe, where the number of carriers that are providing Korean phone their strategic models is growing.