LG’s mobile business may be a serial loss-maker, but the rest of the Korean firm’s interests are doing pretty… better than ever actually according to its newest earnings forecast.
Like fellow countryman Samsung, LG is on course for company-record Q1 financial results.
The company is predicting an operating profit of 1.1 trillion KRW ($1.03 billion) on total sales of 15.1 trillion KRW ($14.1 billion) for the quarter.
That’s up 20 percent year-on-year and it represents the first time LG has made a profit of over 1 trillion KRW in the first quarter of the financial year.
The financial forecasts don’t include in-depth analysis of LG’s divisions — the full earnings are due later this month — so we don’t yet know what is driving this record for sure.
Carrying on from its Q4 earnings, which helped 2017 become LG’s most-profitable financial year since 2009, we know that the firm’s home appliance and TV divisions were the star performers, while its home entertainment division saw operating income jump 134 percent to hit $345.96 million.