According to a report in Reuters, LG said that Motorola’s troubled handset division’s pain is good news for its market share in the worldwide market. LG is currently the fifth largest handset maker worldwide, after Nokia, Samsung, Motorola and Sony Ericsson.

Earlier this year, LG said it hoped to increase its overall market share and sell 100 million handsets this year. The company also said it was specifically targeting growth in North America, with hopes of selling $13 billion worth of products in the area this year. LG’s sales in North American were $11.5 in 2007.