Samsung and LG cut 2009 handset sale targets

SEOUL (Reuters) - South Korean mobile phone makers Samsung Electronics and LG Electronics (066570.KS) have cut their 2009 sales targets as a global downturn spreads, Maeil Business Newspaper reported on Monday, citing brokerage sources.

Samsung (005930.KS), the world's second-biggest mobile phone maker trailing Nokia (NOK1V.HE), cut next year's sales target by about 8 percent to 222.8 million units from an initial 242 million, the South Korean daily said. Samsung's 2008 sales are seen at 200.1 million units, it added.

LG's 2009 target is now 105.6 million units compared to the previously set 119 million, down about 12 percent, according to the paper, which said LG was expected to sell 100.1 million phones this year.

Samsung, which said last week the global handset market could post single-digit or negative growth in 2009, said it had yet to set next year's sales goal.

A spokesman for LG also said the company had yet to issue its 2009 targets.

The report came as global consumer demand for electronics deteriorates rapidly and makers of handsets and telecom gear have issued warnings about the slowing market.

Research firm Gartner said last Tuesday global mobile phone sales were set to fall up to 4 percent in 2009.

In the July-September quarter, Samsung held 17.1 percent of the global mobile phone market. LG ranked No. 5 with a 7.8 percent share, close behind Sony Ericsson (6758.T) (ERICb.ST) and Motorola (MOT.N).

(Reporting by Rhee So-eui; Additional reporting by Marie-France Han; Editing by Jonathan Hopfner)