LG 2017 announces financial results for first quarter

LG Electronics Inc. its results for the first quarter announced today 2017. Therefore, the company achieved a turnover of 14.66 billion KRW ($12.70 billion), which corresponds to an increase of 9.7 percent over the same period of the previous year and 4th quarter of 2016 with 14.78 trillion KRW (12,79 billion US dollars) is located just below the values of the . At the same time, LG could nearly double its operating profit to 921,5 billion KRW ($798,3 million). The home appliance & air solutions company reports its best quarterly profit in eight years.

(Bild: LG) the LG mobile communications company expelled a turnover of 3.01 trillion KRW ($2.61 billion), which is an improvement by four percent from the previous quarter, and by two percent compared to the first quarter of the previous year. The launch of the flagship smartphones G6 as well as new models for the mass market was decisive for this LG according to. For this, the company reports quarter sold quantities of 14.8 million smartphones, ten percent more than in the first quarter of the previous year, particularly through sales in America. While the reorganization measures of the past year show first effects will also be expected on the part of the company that the price competition in the mass segment and competition from other top models will intensify this year.

 LG G6 2017 (image: LG)

the highest operating profit margin for a first quarter, 8.8 per cent of the revenue of 4.33 trillion KRW ($3.75 billion) reported the LG home entertainment company. Main reasons for this were higher sales of premium products, an improved cost structure and a more flexible strategy in dealing with the rising Panel prices. The company expects for the next quarter a positive development of demand for TVs, starting from the business opportunities in North America, Latin America and Asia, especially excels the rising popularity of OLED and ultra-HD TV-products from LG and the introduction of the new LG signature OLED TVs W results.

the LG home appliance & air solution company achieved a sales increase of ten percent over the same period of the previous year and by 15 percent from the previous quarter in the first quarter. The turnover of 4.64 trillion KRW ($4.02 billion) is based on a strong performance in Asia and Latin America. An increase of 33 percent over the previous year was achieved household appliances sales, which was caused mainly by strong sales with Twinwash washing machines, air conditioners, and certain refrigerators, as well as with the latest LG Styler premium management system for clothing and with air cleaning device. With regard to the pending home sale time LG expects an improvement of the economic environment in large parts of Asia and Latin America, two key growth markets.

the LG vehicle components company reports strong sales amounting to 876,4 billion KRW ($759.2 million) and thus an increase of 48 percent compared to the first quarter of the fiscal year 2016. This is due largely on his own statements according to successful cooperation with General Motors for the popular electric bolt. Continued investment in research and development and business growth are affecting profitability this year.

also Samsung has been submitted to the balance sheet for the first quarter of 2017 today . As expected, the Korean company increased its operating profit by 48 percent to 9.9 trillion won (8 billion euros). Sales increased, however, only slightly by 1.5 percent to 50.55 trillion won (40.9 billion euros). The Semiconductor Division, as well as the display business in the first place are responsible for the good result.

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