LG Looking Good
South Korea’s LG Electronics expects Q1 operating profit to rise 20 percent from a year ago to its highest in nine years, beating market expectations.
The world’s No.2 television maker did not disclose details of the results, but they are based on bullish sales of OLED TVs and premium home appliances. These sectors are likely to offset weakness in LG’s mobile phone division.
Preliminary January-March profit came in at 1.1 trillion won or US$1 billion, LG Electronics’ highest quarterly operating profit since Q2, 2009.
Strong sales of OLED TVs, as well as lower costs from cheaper LCD panels, boosted earnings for its TV division.