A well-known South-Korean giant LG has just revealed its 2018 Quarter 1 results. While the company is unknown in the smartphone segment but they have still managed to achieve the highest Q1 profit after the summers of 2009. Compared to the previous year stats the brand has performed really well in terms of earning and sales. We know that all LG fanboys out there are eager to witness the exact figures, so without wasting any time let’s get to the facts.
In Q1 2018 results in the consolidated sales of KRW15.12 trillion($14.1 billion) and a profit of KRW1.11 trillion($1.03 billion). All that happened is a result of 3.2% sales increase and 20% income leap. One should not forget the total sales figure includes sales of different products which mean smartphones as well. After analyzing these facts the future is looking bright for the brand but smartphone sector is still disturbed. For 76.5% rise in LG’s profit, their Television and OLED panel is responsible.
In terms of smartphone sales the company is still in threat, Phone sales were at KRW2.16 trillion($2 billion) last year’s Q1 stood at $176,000 loss which has now been decreased to $126 million. According to the brand the smartphone launching strategy was responsible for all this. As revealed by the brand itself they have shipped more than 11.4 million handsets between January and March. Even with low sales, the brand believes that they have fulfilled the losses by their refined cost structure. In the upcoming quarter, the brand is expecting a better growth in overall.