[THE INVESTOR] Samsung Electronics has sold more than 110,000 units of its convertible laptop Pen after the device was released in the local market in December 2017, industry sources said on Dec. 11.

Considering the popularity, the Korean tech giant is expected to sell 120,000 units of its versatile laptop, which can also function as a tablet PC, by the end of this year.

The sales performance is significant as the size of the Korean market for laptops has been decreasing over previous quarters amid the rising presence of smartphones and desktop PCs.

Over the January-September period, the shipment of laptops in Korea came to 1.87 million units, down 7.2 percent on-year, the International Data Corporation Korea’s data showed.

LG Electronics, Samsung’s smaller Korean rival, also plans to release a convertible laptop in January, sources said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)