Samsung SDI at top of battery market

• Tweet

SEOUL, March 12 (UPI) -- South Korea's Samsung SDI Co. had the top global market spot for lithium-ion batteries for the third consecutive year in 2012, data indicated Tuesday.

South Korean news agency Yonhap, quoting Japanese market researcher B3, said Samsung SDI, spurred by growing demand for mobile devices, shipped 1.07 billion cells last year to capture a 26 percent share of the global battery market.

The report said one such cell is used for batteries for smartphones or tablet PCs, while more are needed for bigger batteries such as those used in electric cars.

Japan's Panasonic Corp. ranked second, with 18.7 percent of the market, followed by South Korea's LG Chem Co. with 17.5 percent, the report said.

"Last year, Samsung SDI improved its sales structure with a focus on lucrative products for smartphones and tablet PCs," Samsung SDI Chief Executive Officer Park Sang-jin was quoted as saying. The company reported its fourth quarter profit rose 1.3 percent year-on-year.

The report, quoting Samsung SDI projections, said the market for smaller batteries is expected to grow 9 percent this year in revenue terms, fueled by demand for mobile devices.