LG Electronics: operating profit for the first quarter was about 6.3 billion yuan, up 971 percent from the previous month.

Published: Apr 7, 2020 16:25

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SMM4, March 7: LG Electronics today released its earnings report, initially verifying that operating profit in the first quarter of this year rose 21.1% from a year earlier, up 971% from the previous month, to 1.0904 trillion won (6.3 billion yuan), the third highest level in history.

LG Electronics focuses on consumer electronics, mobile communications products and household appliances.

LG Electronics is South Korea's second largest electronics company after Samsung, producing a wide range of products, including mobile phones, televisions, air conditioners, washing machines and refrigerators.

The home appliance and television businesses are expected to underperform in 2019 due to factors such as the off-season and increased marketing costs. The company's smartphone business has lost money for 19 consecutive quarters.

In addition, LG Electronics is a leader in 4G LTE and 5G patents. The company won the largest number of LTE and LTE-Advanced patents in the United States for five consecutive years from 2012 to 2016, according to data from a U. S. patent consulting firm.

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