There are still rumours on the Web that Motorola is going to sell its beliguered phone business, and its rivals are already circling.

Now LG Electronics, which is currently number five in the global mobile phone market pecking order, has told Reuters that it is going to try and knock Motorola from its current position as number three.

"Yes, we'll increase our market share sharply", LG's chief executive Nam Yong said, when asked by Reuters whether Motorola's poor performance is seen as a chance for the South Korean company.

Nam, however, did not give away any details of the company's intentions.

LG is pinning its hopes for an increased market share on new models such as the Viewty, as well as trying to increase its cache in emerging markets.

It held 7.2% of the global mobile phone market in 2007, but said in January that it is aiming to sell 100 million mobile phones this year for an 8.3% market share.

Motorola, in contrast, has been losing market share to rivals including the biggies - Nokia and Samsung Electronics after failing to come up with a strong successor to the Razr phone.

It is now undertaking a strategic review, which analysts are predicting could result in the sale of its loss-making mobile phone unit.