LG Electronics, the world’s second-largest television maker by sales, returned to profit in the first quarter as higher sales of premium televisions improved its profit margins.

The company swung to a net profit of Won242.5 billion ($213m) in the January-March period, from a Won15.8 billion net loss a year earlier. Operating profit more than trebled to Won448.2 billion while sales fell 7.1 per cent to Won12.2 trillion.

Overall profitability was bolstered by strong sales of its 3D TVs and internet-connected TVs, a business in which it dominates globally with rival Samsung, taking market share from Japanese rivals such as Sony and Panasonic.

LG plans to boost sales further through introducing higher-end TVs using organic light-emitting diode technology. It also aims to increase LCD TV sales this year by about 20 per cent to 30 million units, seeking to become the largest seller of 3D TVs by capturing about a quarter of the market.

Other posts by :

1. SES warns of risks for airlines adopting Starlink
2. Starlink facing backlash in South Africa
3. China wants 200,000 satellites
4. Bank raises view on AST to $100 
5. Frost & Sullivan cites Hughes as #1
6. Verizon cutting prices
7. ScotiaBank confuses market over AST SpaceMobile
8. EchoStar gains bank support
9. SpaceX complains to FCC over AST SpaceMobile

Categories: Articles, Business, Connected TV, Equipment, Results, UHD