LG posted its Q1 numbers and they paint a terrific general image. The company’s consolidated earnings was KRW 14.73 trillion ($12.4b) on which it produced KRW 1.09 trillion ($921.4m) in working revenue. This is just the next time in its background that LG has exceeded KRW 1 trillion in the initial quarter of a 12 months.
LG’s Home Equipment & Air Option and House Amusement organizations did nicely, putting up KRW 8.39 trillion ($6.95b) in income.
On the other hand LG’s Mobile division described just KRW 998.6 billion ($843.9m) in income and a ensuing functioning loss of KRW 237.8 billion ($200.96m). That loss has shrunk in comparison to Q4 of 2019, but is however a loss.
LG bought 34% much less smartphones in Q1 of 2020, in contrast to the exact same interval very last yr, thanks to supply disruptions from Chinese associates, induced by the COVID-19 pandemic.
LG’s mobile hopes now lie with the new Velvet 5G, which is due for launch in Q2.
