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Friday, April 07, 2017
LG Electronics Expects Profit Boost From On Healthy Sales Of Appliances and TVs


LG Electronics is expected to post the second-highest profit in the first quarter due to stable performances in home appliances and televisions.

LG estimated on Friday it posted 14.6 trillion won in sales and 9.2 trillion won in operating profit, 9.7 percent and 82.4 percent rises on-year, respectively. Revenue for the quarter likely rose 9.7 percent to 14.7 trillion won, the firm said.

Industry watchers said the healthy performance is attributable to the improved profitability of the company's TV and home appliance businesses, while it also successfully reduced losses from the smartphone business.

LG's high-end home electronics brand, "LG Signature," has been gaining popularity around the world. Its OLED TV line-up, which took up 10 percent of its TV sales, is expected to reach 15 percent this year, adding to its profitability.

LG's smartphone unit, which had posted 1.2 trillion won in operating losses last year, is estimated to reduce its losses this year after streamlining its personnel and business in 2016.

LG's mobile business likely turned an operating loss for the eighth-straight quarter. Sales of its new G6 flagship smartphone began in March and likely will not provide meaningful contributions until the second quarter.



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