Mobile phone maker LG Electronics became the world’s fourth largest company in the first quarter leaving behind Sony Ericsson for the first time since 2006.

LG Electronics managed to capture the fourth position by selling 24.4 million units in the January-March period leaving behind Sony Ericsson with its sale of 22.3 million. The market is dominated by Nokia followed by Motorola and Samsung. Motorola is expected to lose out on its position due to the troubled times haunting its handset business. This leaves LG to fight it out with other global layers for a larger share of the market.

The company aims to sell 100 million handsets this year and generate an operating profit of 1 trillion Won.