LG Now #3 Handset Maker, Passes Motorola

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Amid record cell phone sales—led by its high-end Secret, Viewty and Venus models—South Korea’s LG Electronics said Monday that second-quarter net profit surged 84 percent from the same period last year, the Associated Press reports.

The company said it sold 27.7 million handsets during the quarter. That’s probably good enough to catapult the company ahead of Motorola into the number three spot for global handset sales, according to analysts at Goldman Sachs. Nokia and Samsung are number one and number two, respectively, worldwide.

It’s a good time for LG, but a bad one for Motorola, who has been steadily—and rather quickly—losing market share in comparison.