Samsung Electronics Company and LG Electronics as well resulted in good performance in the first quarter, while Samsung continuing to wrap up the record high operating profits as much as 15.6 trillion won. LG also broke through 1.0 trillion won quarterly operating profits firstly in 35 quarters.
Samsung Electronics announced a total of 60 trillion sales revenue and 15.6 trillion operating profits in the first quarter estimate financial statements. Although the revenues over the first quarter declined 9.06 percent from the fourth quarter of 65.98 trillion won but gained 18.69 percent versus the first quarter 50.55 trillion won. Operating profits increased 2.97 percent from the final quarter of last year seen 15.15 trillion won, and up 57.58 percent from a year ago of 9.9 trillion won respectively. The good results seemed thanks to the boosted price of D-RAM price as well as Galaxy S9 cell phone. The results are seen to continue upbeat in the second quarter and beyond in view of the favorable business condition in the semi-conductor and smart phone divisions, expecting a record largest results throughout this year.
LG Electronics also recorded operating profits more than 1.1 trillion won which exceeded original expectations of the market. LG Electronics announced that it achieved 15.12 trillion won sales revenue and 1.10 trillion operating profits on the consolidated first quarter estimate basis. The results exceeded 1.0 trillion won operating profits is known to become the first in 35 quarters and a record second spot since the second quarter of 2009 seen 1.24 trillion won. The favorable results were towed by the TV and home appliance divisions as well as due to the higher weight in OLED and UHD TV sales volume. LG Electronics is expected to continue the boosting results in the second quarter and beyond given the strong competition in TV and home appliance business divisions associated with VC business which is expected to turn into the black from the mid-year entering 1.0 trillion sales revenues.
swkim
