South Korean phone manufacturer LG has announced this evening that it has sold 5 million LTE handsets worldwide. Over 1 million handsets were sold in July alone.
LG's wildly popular Optimus LTE phone was the most popular of LG's line, with just over 2 million units sold.
LG currently sells more than 10 LTE devices across several markets, including Japan, US, Europe and Asia. Company executives optimistically expect its growth rate to continue to increase.
LG's Mobile Communications CEO Jong-seok Park was quoted saying:
"Sales of global LTE smartphones are expected to increase ten-fold this year from last year. With that in mind, we are planning to introduce an even more impressive LTE lineup in the next several months second to none." Gartner is currently reporting that LG is number 5 in smartphone sales, holding a 3.4 percent marketshare in the second quarter of 2012.