According to “industry sources” of The Korea Herald, LG’s smartphone division posted a growth of 25 percent on a YoY basis. If the company continues to keep up this rate of growth, it might eventually become the third largest smartphone market in the world. The company currently shares the fourth spot with Huawei. 

Analysts estimate that LG shipped 59.6 million smartphones in 2014, thanks to the growing popularity of its G series of smartphones, which includes its flagship handset — the LG G3. This is inline with industry expectations of the company selling roughly 60 million smartphones in the previous calendar years. The Korean company had managed to ship 47.6 million and 26.3 million smartphones in 2014 and 2013, respectively.

An industry insider suggested that the growth of Chinese OEMs will slow down in the first half of 2015, which should further help in increasing the company’s profit and sales.

With the competition in the smartphone market heating up, LG has been diversifying its product portfolio and trying to differentiate itself by offering unique features on its device. The company used a ‘LaserAF’ to considerably improve focus times on the LG G3, even in low-light conditions, and was the first OEM to update the handset to Lollipop.